Overview
- President Trump, speaking Friday after the Beijing summit, said China “chose not to” let companies buy Nvidia’s H200 chips even after U.S. regulators cleared roughly 10 firms including Alibaba, Tencent, ByteDance and JD.com.
- No shipments have occurred, and Chinese regulators and companies have canceled or held back earlier purchase plans as Beijing pushes buyers toward domestic suppliers such as Huawei.
- Nvidia CEO Jensen Huang joined the U.S. delegation to Beijing, yet the summit ended with no change to China’s stance on H200 approvals.
- Shares hit a record on Thursday on approval headlines, then fell on Friday, and options pricing points to a move of about 7% after Nvidia reports results on Wednesday.
- Senate Majority Leader Chuck Schumer criticized the proposed sales as dangerous for U.S. security, highlighting renewed political resistance to exporting advanced chips to Chinese firms.