Nvidia(US:NVDA) Nan Fang Du Shi Bao·2025-12-11 03:53Group 1 - The H200 chip from Nvidia is expected to attract Chinese cloud vendors for procurement after its sales restrictions are lifted, despite its performance being lower than the current Blackwell series chips [2] - The H200 chip shows a significant performance improvement over the H20 chip, with a peak theoretical computing power of 1979 TFLOPS compared to H20's 148 TFLOPS, and it features 141 GB of HBM3e memory versus H20's 96 GB of HBM3 [2] - The procurement of the H200 chip will depend on formal policies, and cloud vendors are likely to test domestic AI chips to mitigate risks [3] Group 2 - The entry of the H200 chip into the Chinese market may intensify competition in the high-end chip sector, with local companies focusing on performance, compliance, and cost-effectiveness to strengthen their market position [4] - If Nvidia's H200 and AMD's MI325 can be exported to China, they could capture about 30% of the high-end AI chip market by 2026, while domestic ASIC chips are expected to hold 20% [5] - The overall supply of high-end AI chips in China is projected to grow by over 60% by 2026 [5]