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BABA-W, TENCENT Stockpile Nvidia H20 Chips: Wire
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This month, the U.S. government restricted Nvidia (NVDA.US) from exporting H20 chips to China. As Nikkei Asia cited people with the knowledge of the matter, Chinese tech giants, such as ByteDance, BABA-W (09988.HK) and TENCENT (00700.HK), began preparing for potential restrictions last year, attempting to stockpile H20 chips. These three companies requested Nvidia to urgently deliver approximately 1 million H20 chips, equivalent to a year’s supply, ideally by the end of May, sources divulged. The value of these urgent orders exceeds USD12 billion. Sources also indicated that H20 chips worth billions of USD have already been shipped to China before the new U.S. restrictions took effect, with ByteDance being the most aggressive in procurement. AAStocks Financial News |
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