By Karen Freifeld, Arsheeya Bajwa, Trevor Hunnicutt and Alexandra Alper (Reuters) -U.S. President Donald Trump on Monday suggested he might allow Nvidia to sell a scaled-down version of its next-generation advanced GPU chip in China,

The agreement between the chipmakers and the U.S. government will allow Nvidia and AMD to obtain export licenses to resume sales to China.

Nvidia and Advanced Micro Devices (AMD) will give the US government 15 percent of their revenues from certain AI chip sales to China in exchange for export licences, a move that could unlock billions in annual revenue for the companies, according to Reuters .