Jensen Huang pulled off something of a political miracle this week for Nvidia shareholders. As the U.S. and China continue to growl at one another over tariffs and other elements of the trade war between the two countries and the race to attain AI superiority, Huang convinced Donald Trump to lift the ban on select AI chip sales to China.

The chairman of the House Select Committee on China on Friday objected to the resumption of Nvidia H20 AI chip sales to China in a letter to U.S. Commerce Secretary Howard Lutnick.

The episode showed that Huang, 62, is becoming increasingly adept at pulling off a delicate diplomatic dance that is both benefiting his company and helping the world’s biggest economies manage their...