Nvidia stock rose early Friday as the artificial intelligence chip maker looked set to end a strong week with more gains, keeping its recent momentum going.

Shares, which are up 2.5% this week through Thursday's close, rose 0.49% to $117.95 in premarket trading. Futures tracking the tech-heavy Nasdaq 100 were up 0.2%.

Nvidia stock has jumped 7.8% so far in May amid renewed optimism over trade and tariffs. Earlier this week the Trump administration said it would scrap regulations limiting global exports of advanced chips, drawn up by the Biden administration.

Nvidia is close to releasing a downgraded version of its H20 chip for China, Reuters reported Friday, citing people familiar with the matter.

The H20 chip is specifically designed for the Chinese market to comply with U.S. export restrictions.

It comes after Nvidia last month said future sales of its H20 chips to China would require a license from the U.S. Department of Commerce, effectively blocking sales of those chips as licenses are unlikely to be forthcoming.

Nvidia didn't immediately respond to a request for comment.