In a stunning about-face that has left the tech industry reeling, US President Donald Trump has abruptly lifted export restrictions on H20 AI chips to China—effectively erasing months of stringent semiconductor sanctions overnight.

Jim Cramer believes that Nvidia Corp. (NASDAQ:NVDA) is poised to get a significant boost with the U.S. government assuring licenses for the sale of its H20 chips or general processing units to China,

Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. United AirlinesUAL reported mixed results late Wednesday. NvidiaNVDA chipmaker Taiwan SemiconductorTSM headline earnings early Thursday with NetflixNFLX due after the close.

The tech giants said they can resume selling high-end semiconductors to China, in what appears to be a major about-face for the Trump administration.

Donald Trump’s decision to let Nvidia sell powerful artificial intelligence (AI) microchips to China has sparked fears that the technology could be used to boost Beijing’s military. Charles Parton, from the think tank Rusi, said there would “inevitably” be sales of semiconductors “which have the possibility of military use”.

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The United States’ plan to “re-industrialize” technology manufacturing is “exactly the right thing,” Jensen Huang, CEO of the world’s largest chipmaker, said Thursday.

At the Beijing Expo, Jensen Huang also announced plans for a new chip for Chinese clients that is designed for robotics and smart factories.