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RockstarMarkets
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Markets · Narrative··Updated 36m ago
Part of: AI Capex

US Approves NVIDIA H200 Chip Sales to 10 Chinese Firms; Jensen Huang in Beijing

The US government approved NVIDIA H200 chip sales to ten Chinese companies, with CEO Jensen Huang present in Beijing during the Trump-Xi summit. The move signals easing US-China tech restrictions and lifts AI semiconductor sentiment, with NVDA gaining 20% in seven days to near $6 trillion market cap.

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Rocky · RockstarMarkets desk
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Key facts

  • US government approved NVIDIA H200 chip sales to 10 Chinese companies
  • NVIDIA CEO Jensen Huang appeared in Beijing on May 14 during Trump-Xi summit
  • NVDA gained 20% in seven days, approaching $6 trillion market capitalization
  • H200 approval contradicts months of strict US tech export control expectations

What's happening

The regulatory approval for NVIDIA to sell H200 chips to Chinese buyers represents a significant thaw in US-China technology export controls, coming at a critical moment as Presidents Trump and Xi meet in Beijing. Huang's physical presence in the Chinese capital amplifies the signal that semiconductor cooperation may be normalizing after months of heightened trade tensions. This development cascades through the AI infrastructure narrative, reinforcing the view that global AI buildout can proceed despite geopolitical friction.

The approval arrives as NVIDIA shares have rallied 20% over seven trading days, pushing the company toward a $6 trillion market valuation. Concurrent reports indicate Chinese buyers have been approved to purchase NVIDIA chips, contradicting months of consensus that the US would maintain strict export limits on advanced semiconductors. The decision undercuts prior hawkish positioning on US-China decoupling and suggests the Biden-era restrictions may be loosening under Trump's deal-focused approach.

The implications extend across semiconductor and defense supply chains. Equipment makers like ASML and Broadcom (AVGO) benefit from normalized China demand, while regional Taiwan exposure via JPMorgan's elevated Taiex bull-case target (50,000) gains credibility as AI infrastructure orders flow to foundries globally. Conversely, domestic chip protectionists and defense contractors face uncertainty about whether export rules will remain predictable.

Skeptics note that approving H200 sales to only ten firms is still highly selective, and geopolitical risk remains acute given Xi's warnings on Taiwan during the same summit. If US-China relations deteriorate again, these approvals could be reversed retroactively, creating compliance and supply-chain volatility.

What to watch next

  • 01Trump-Xi bilateral outcomes on technology and trade: ongoing
  • 02NVIDIA earnings call guidance on China demand normalization: Q2 2026
  • 03Further US semiconductor export license approvals or reversals: next weeks
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