Nvidia(US:NVDA) Guan Cha Zhe Wang·2025-12-13 03:08Core Viewpoint - The U.S. government has allowed Nvidia to export H200 AI chips to China with a 25% revenue share, aiming to challenge Chinese tech giants like Huawei, although there are doubts about the effectiveness of this strategy [1][3]. Group 1: Export Policy and Market Impact - The U.S. aims to promote competition in the Chinese market by allowing the export of H200 chips, which are considered "lagging" technology [1]. - David Sacks, a key proponent of this policy, expressed uncertainty about whether China would accept these chips, as they are pursuing semiconductor independence [1][3]. - Nvidia has removed Chinese market revenue from its forecasts, with analysts estimating potential annual revenue of $10 billion from H200 chips if accepted by China [3]. Group 2: Chip Specifications and Performance - The H200 chip features higher bandwidth memory compared to its predecessor, H100, enabling faster data processing, with performance nearly six times that of H20 [5]. - The export of H200 chips could allow Chinese AI labs to build supercomputers with performance close to top U.S. AI supercomputers, albeit at a higher cost [5]. Group 3: Competitive Landscape and Challenges - Chinese companies are actively developing domestic AI chips to replace Nvidia's market share, with Huawei announcing a roadmap for its Ascend AI chips [8][9]. - Concerns over security vulnerabilities and monopoly risks have led to increased scrutiny of Nvidia's operations in China, with regulatory investigations ongoing [7][9].