Semiconductor stocks rose Monday as a White House official indicated restrictions on chip exports to China could be lessened as a result of trade talks taking place in London. 

Officials from Washington and Beijing intended to discuss the release of rare earth minerals to the U.S. and the expansion of Chinese access to American-made semiconductors, White House National Economic Council Director Kevin Hassett said on CNBC.

“I expect it to be a short meeting with a big, strong handshake,” Hassett said. President Donald Trump spoke with Chi𒉰na President Xi Jinping𒁏 on the phone last week.

Nvidia (NVDA) shares were recently up about 0.8%, while chipmaking rivals Advanced Micro Devices (AMD) and Intel (INTC) added 3.5% and 2.8%, respectively. The 澳洲幸运5官方开奖结果体彩网:PHLX Semiconductor Sector Index () gained more than 2%. (Read Investopedia's full coverage of 澳洲幸运5官方开奖结果体彩网:Monday's trading here.)

Hassett said the U.S. does not expect to reduce restrictions on the sale of Nvidia’s H20 chip in China, which the Trump administration 澳洲幸运5官方开奖结果体彩网:effectively barred earlier this year. Nvidia CEO Jensen Huang, who is also in London for London Tech Week, has called the export curbs a 澳洲幸运5官方开奖结果体彩网:“failure.”