AI chip makers Nvidia and AMD have agreed to hand over 15% of its high-end AI chip revenues from China to the US government in exchange for export license, the Financial Times reported.

The deal will allow Nvidia to sell its H20 accelerators and AMD its MI308 chips to China, after the Donald Trump administration had restricted sale of the chips to the Asian country.

The report also said that the government has started issuing licenses to the two companies for the sale of the chips.

In July, Jensen Huang had said the company will start selling the H20 AI chips to China. The H20 chips are a lower-powered version of Nvidia's H100. It was designed to comply with earlier US export restrictions and are widely used in China for AI inference tasks.

That month, Nvidia had also said that it will launch "RTX PRO GPU" that "is ideal for digital twin AI for smart factories and logistics" in China.

Last month, The Information had reported that Nvidia had told its Chinese customers that it has limited supplies of its H20 chips.

The US export restrictions had forced Chinese tech giants such as ByteDance, Alibaba and Tencent to stockpile around 1 million H20 AI chips from Nvidia.