July 16, 2025 01:27 AM GMT Semiconductors | North America H20, mi308 are back; FAQs US AI stocks NVDA, AMD, AVGO are likely to receive licenses to ship to China at levels consistent with the prior threshold. We would keep near term expectations in check as outlined below, but it's a significant positive for 2026 for all AI stocks, including our Top Pick NVDA. What happened? Monday night, NVIDIA announced in a blog post (here) that they are expecting to secure US govt licenses to resume shipments of H20 prod ...

This call obviously post the approval of the US for AMD and Nvidia AI chips to be shipped to China. Sherman also shared his thoughts on China datacentres and Sherman on TSMC ahead of earnings tomorrow. Sherman 还分享了他对中国数据中心市场的见解，并在台积电明日财报前发表了看法 Loads of useful takeaways in here on H20, RTX. Ascend and the beneficiaries in the supply chain and amongst CSPs. 会议包含大量关于 H20、RTX、昇腾芯片的有价值信息，以及供应链和云服务提供商中的受益企业。 Nvidia 英伟达 Inventec 英业达 Alibaba 阿里巴巴 TSMC 台积电 Some key winners: 主要赢家： 此次会议显然是在美国批准 AMD 和英伟达向中国运送 AI 芯片后举行 ...

尽管英伟达尚未披露未来季度H20芯片的具体收入预期，但分析师基于市场恢复预期作出保守估算：自 2026财年第三季度(即10月)起，该芯片每季度出货量有望达到30亿美元规模。 英伟达(NVDA.US)近日宣布计划恢复向中国市场销售其H20芯片，并称已获得美国政府出口许可证的保 证。受此消息影响，知名投资公司Needham将英伟达股票目标价从160美元上调至200美元，并维持"买 入"评级。 以N.Quinn Bolton为首的分析师团队指出，今年4月因出口管制导致的H20产品禁运，曾导致英伟达2026 财年第一季度无法完成25亿美元的芯片出货，同时原定于第二季度交付的价值近80亿美元的H20订单也 被迫暂停。 值得关注的是，英伟达正为中国市场开发Blackwell架构GPU变体产品(包括B30/B40/RTX6000D等型 号)，相关产品预计将于8月至9月间启动发货。此次政策调整与新产品布局，被视为英伟达应对中国市 场需求的重要战略调整。 H20是英伟达专为中国市场设计的AI加速器，基于Hopper架构，拥有96GB的HBM3内存和4.0TB/s的内 存带宽。其FP8性能为296TFLOPS，FP16性能为14 ...

花旗和杰富瑞表示，H20芯片重启销售将对中国互联网数据中心行业产生积极影响。伯恩斯坦估算，英伟达在中国市场收 入每恢复100亿美元，就可带来约0.25美元的EPS提升。Melius Research将英伟达目标价大幅上调43%、预计市值因 H20重启销售突破5万亿美元。UBP认为这还利好整个AI半导体供应链。 硬·AI 作者 | 卜淑情、李丹 编辑 | 硬 AI 英伟达宣布重启H20芯片对华销售，推动中国云服务商和数据中心板块全线上涨。 据 央视新闻 ，英伟达公司创始人兼首席执行官黄仁勋今天在接受总台央视记者采访时宣布，美国已批准 H20芯片销往中国，"我们将开始向中国市场销售H20。 花旗和杰富瑞分析师表示，H20芯片重启销售将对中国互联网数据中心行业产生积极影响，并看好相关个 股表现。同时，这一消息有望为英伟达今年增加数十亿美元收入，同时提振中国AI相关企业发展前景。独 立研究和投资机构Melius Research为此将大幅上调英伟达目标价，预计上周才突破4万亿美元的英伟达市 值将因此站上5万亿大关。 周一，阿里巴巴港股大涨近7%，金山云和万国数据均大涨超10%，推动恒生科技指数涨超2%。在美上市 金山 ...

Core Viewpoint - Nvidia has announced the resumption of H20 chip sales to China, positively impacting Chinese cloud service providers and the data center sector, leading to significant stock price increases in related companies [1][2][4]. Group 1: Nvidia's H20 Chip Sales - Nvidia's CEO Jensen Huang stated that the U.S. has approved the sale of H20 chips to China, which is expected to generate billions in revenue for Nvidia and boost the prospects of AI-related companies in China [4][6]. - Analysts from Citigroup and Jefferies believe that the resumption of H20 sales will have a positive impact on China's Internet Data Center (IDC) industry, with specific recommendations to buy Century Internet and GDS Holdings [5][6]. - Nvidia's potential recovery of $15 billion in data center revenue, previously at risk due to sales bans, could significantly enhance its earnings per share (EPS) [6][9]. Group 2: Market Reactions and Predictions - Following the announcement, Alibaba's stock surged nearly 7%, while Kingsoft Cloud and GDS Holdings saw increases of over 10%, contributing to a more than 2% rise in the Hang Seng Tech Index [2][4]. - Bernstein estimates that for every $10 billion in revenue restored in the Chinese market, Nvidia's EPS could increase by approximately $0.25, with a potential overall EPS increase of $0.40 to $0.50 if $15 billion to $20 billion in revenue is recovered by FY2026 [6][9]. - Nvidia's stock rose nearly 5% after the announcement, contributing to an increase in the Nasdaq index [6].

General servers seeing order increase: We previously expected a more front-loaded general servers demand in 1H25 but now we have been seeing order increases from the US CSPs into 3Q25e. According to a recent statement made by a few Taiwan server ODMs and component suppliers, we are seeing a potential upside for 2H25's general servers' demand, driven by AWS and Microsoft. Meta hasn't seen upward revision for 2H25 but we expect potential order increases supported by a more backend loaded capex outlook (exhibi ...