Nvidia will ramp up supply of Chinese-compliant H20 chips in the coming months and look to bring more advanced semiconductors to the world's second-largest technology market, Chief Executive Jensen Huang said at an event in Beijing.

Nvidia stock remains in focus on hopes that the chipmaker will soon resume business in China. Needham raised its price target on NVDA shares to $200 on Wednesday.

CEO Jensen Huang said the company will boost supply of Chinese-compliant H20 chips in the coming months and look to bring more advanced semiconductors to the country, Reuters reported. "H20 was released from its ban,