Overview
- Talks between President Trump and President Xi ended without an agreement to unlock Nvidia H200 sales to Chinese buyers.
- The U.S. Commerce Department licensed 10 Chinese firms, including Alibaba, Tencent, ByteDance and JD.com, to buy the H200 with limits of up to 75,000 chips per customer and purchases allowed through intermediaries.
- Despite those licenses, people familiar with the deals say no shipments have gone out because Beijing told companies to pause or review orders to favor domestic chipmakers.
- Nvidia CEO Jensen Huang joined Trump’s delegation to Beijing and told state broadcaster CCTV he hoped the leaders’ relationship would help restart sales.
- Before tighter export curbs, Nvidia held about 95% of China’s advanced chip market and China supplied roughly 13% of its revenue, a share now at risk as local players test AI models on Huawei hardware.