Chinese tech giants including ByteDance and Tencent are scrambling to secure NVIDIA's H20 AI chips following the U.S. government's approval of their sale in China. Industry sources reveal multiple Chinese companies are urgently submitting purchase requests after NVIDIA established a dedicated "whitelist" system for domestic buyers.
NVIDIA CEO Jensen Huang confirmed during a Beijing visit that U.S. authorities have authorized the H20 shipments to China. This marks Huang's second trip to China since April, when he emphasized China's critical importance to NVIDIA's global strategy. Huang is scheduled to attend the China International Supply Chain Expo in Beijing on July 16.
The surging demand for AI processors has propelled NVIDIA to become the world's first $4 trillion market capitalization company. In pre-market trading Tuesday, NVIDIA (NASDAQ:NVDA) shares surged nearly 5% to $172.25. All purchase orders must undergo U.S. government review, with ByteDance and Tencent currently preparing their formal applications.
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