Nvidia(US:NVDA) Guan Cha Zhe Wang·2025-12-09 01:09Core Viewpoint - The U.S. government, under President Trump, has allowed Nvidia to export its H200 AI chips to China, marking a significant policy shift from the previous Biden administration's strict export controls on chip technology [1][3]. Group 1: Policy Changes - Trump's announcement indicates a departure from the Biden administration's comprehensive export restrictions aimed at hindering China's semiconductor modernization efforts [3]. - The decision includes conditions to safeguard U.S. national security, with the government set to receive a 25% share of the revenue from these exports [1][3]. - Nvidia's spokesperson described the decision as a "well-considered balance" that supports high-paying jobs and manufacturing in the U.S. [3]. Group 2: Market Impact - Following the announcement, Nvidia's stock price rose nearly 3% in after-hours trading, reflecting positive market sentiment regarding the policy change [3]. - The H200 chip is reported to have significantly enhanced performance, being nearly six times more powerful than its predecessor, the H100 [3]. Group 3: Competitive Landscape - The policy shift is seen as a victory for Nvidia's CEO Jensen Huang, who has been lobbying for increased sales to China, believing it will lead to greater reliance on Nvidia's technology by Chinese firms [6]. - Despite the approval for the H200 chip, concerns remain about whether Chinese buyers will be willing to purchase it, especially given the previous restrictions and the introduction of alternative domestic AI chips by Chinese companies [7][8]. - Chinese tech giants like Huawei, Alibaba, Tencent, and ByteDance are intensifying their efforts in chip development to gain market share previously dominated by Nvidia [8].