花旗：中国批准采购H200芯片 腾讯控股成最大受益者

Group 1 - The core viewpoint of the article is that Chinese regulatory authorities have approved Alibaba-W (09988), Tencent Holdings (00700), and ByteDance to purchase NVIDIA's (NVDA.US) H200 AI chips, which could positively impact these companies and the overall Chinese internet industry if confirmed [1][2] - The report highlights that the positive impact is most significant for Tencent, which previously indicated a potential shift to "leasing" GPU computing power as an alternative due to restrictions on direct purchases [1][2] - Citi believes there is an increased risk of capital expenditure rising in 2026, particularly in the AI sector, with a favorable outlook for Tencent, followed by Alibaba, and then Baidu Group-SW (09888) [1][2]