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US Licenses Nvidia H200, China Bans Chips, Huawei Gains

5/22/2026

50 7 Full Breakdown

Summary

China Bans Nvidia

U.S. regulators approved limited licenses for Nvidia's H200 chips for select Chinese customers.
China responded by banning imports of certain Nvidia chips to advance domestic semiconductor self-reliance.
Nvidia CEO Jensen Huang warned that export bans could accelerate Chinese firms such as Huawei and increase their overseas sales.
Six months after the approval, Beijing has not permitted any Chinese firm to purchase the H200 chip.

Summary

Nvidia Earnings

Nvidia reported Q1 revenue of $81.6 billion, up 85% YoY and beating estimates.
The company announced an $80 billion share-buyback and raised its dividend to $0.25 per share.
Shares fell about 2% after earnings, rose 1.3% intraday, then slipped 1.26% after hours.
CFO Colette Kress said H200 sales generated zero China revenue, down from $4.6 billion last year, while rivals such as AMD, Amazon’s Trainium and Google’s TPU JV expand AI-chip presence.

History

Historical Context

In May 2019 the U.S. Commerce Department placed Huawei on the Entity List, cutting off roughly $2 billion of U.S. chip sales and triggering a 30 % drop in its 2020 smartphone shipments. The blanket semiconductor ban expanded in September 2020, isolating Huawei’s supply chain. Nvidia’s 2024 H200 licensing limits echo that precedent, reinforcing a split AI-chip market.

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China Bans Nvidia

U.S. regulators approved limited licenses for Nvidia's H200 chips for select Chinese customers.
China responded by banning imports of certain Nvidia chips to advance domestic semiconductor self-reliance.
Nvidia CEO Jensen Huang warned that export bans could accelerate Chinese firms such as Huawei and increase their overseas sales.
Six months after the approval, Beijing has not permitted any Chinese firm to purchase the H200 chip.

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