Evercore sees potential upside to 2025 estimates for AMD (AMD) after the company said it will resume shipments of its MI308X chips to China after U.S. approval.

Nvidia Corp. and Advanced Micro Devices Inc. plan to resume sales of some AI chips in China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions.

Nvidia’s scaled-down chip is called the H20. Introduced in 2023, it’s a slower version of the company’s H100 chip, which was at one point its fastest data center AI accelerator. AMD’s scaled-down chip is known as the MI308.