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China's Black Market for Nvidia Chips Surges to $1 Billion

7/26/2025

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Summary

Story summary

A booming black market for Nvidia AI chips in China has emerged, raking in over $1 billion in sales despite U.S. export bans. In Shenzhen, companies are not only selling but also repairing these chips, exposing cracks in America's tech dominance. This escalating situation casts a shadow over the future of U.S. AI firms amid rising geopolitical tensions.

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Story summary

A booming black market for Nvidia AI chips in China has emerged, raking in over $1 billion in sales despite U.S. export bans. In Shenzhen, companies are not only selling but also repairing these chips, exposing cracks in America's tech dominance. This escalating situation casts a shadow over the future of U.S. AI firms amid rising geopolitical tensions.