NVIDIA Corporation (NVDA.US) founder and CEO Jensen Huang announced on July 15 that U.S. authorities have greenlit H20 chip exports to China. Concurrently, NVIDIA unveiled its new RTXpro graphics card engineered for computer graphics, digital twins, and artificial intelligence. This dual development catalyzed a fresh rally across Hong Kong's computing power sector, propelling multiple stocks upward.
As a computing power leader and key NVIDIA partner, Lenovo Group (00992) surged nearly 4% intraday before closing 2.75% higher. The stock reclaimed the HK$10 threshold, marking a 54% rebound from its year-to-date low and securing its third consecutive session of gains. Trading volume reached 89.7 million shares, exceeding its 50-day average of 70.9 million shares.
"The U.S. government has assured NVIDIA of imminent license approvals, and we anticipate commencing deliveries shortly," NVIDIA stated officially. Bloomberg interpreted this as signaling a significant policy pivot by the Trump administration. "NVIDIA restarting H20 sales to China is unequivocally positive," commented Vey-Sern Ling, Managing Director at Union Bancaire Privée. "This benefits not only NVIDIA but also the AI semiconductor supply chain and Chinese tech platforms developing AI capabilities. It’s also a constructive step for U.S.-China relations."
The AI narrative regained momentum after NVIDIA's market capitalization breached the $4 trillion threshold last week, cementing its position as the world's most valuable company. West Securities observed that improving market sentiment and sector fundamentals have fueled robust rebounds among overseas AI computing and application firms. From chipmakers to cloud service providers and specialized AI enterprises, most have recovered to previous highs—with industry pioneers like NVIDIA and Microsoft achieving record-breaking valuations. This underscores global capital markets' strong endorsement of AI-driven industrial transformation.
Conversely, domestic AI-focused companies—spanning foundational computing chips, intermediate algorithm services, and application-layer solution providers—have yet to mirror this overseas rebound strength. Consequently, a widening performance gap has emerged between China's AI ecosystem and its international counterparts. As domestic AI models advance and monetization accelerates, West Securities argues that China's AI supply chain presents growing investment value, warranting increased attention. The firm specifically highlighted Lenovo Group, Inspur Information, and Huaqin Technology as key players in the AI server segment.