Nvidia’s stock (NASDAQ: NVDA) took a hit in pre-market trading on Friday, dropping about 1.16% to $180.61. The slide came after news broke that Nvidia agreed to hand over 15% of its AI chip sales revenue from China to the US government,

Nvidia's stock hit a new high after the company struck a deal with the U.S. government to resume the sale of select chips to China.

Nvidia and AMD agreed to share 15% of their revenues from chip sales to China with the U.S. government, President Donald Trump confirmed at a press conference on Monday