"Nvidia recently received the go-ahead from the Trump administration to begin selling its older H200 accelerators to the Middle Kingdom for the first time. The decision marked a significant reversal of long-standing trade policy earlier this month. In exchange, Nvidia will cut Uncle Sam in on 25 percent of the revenues from the sale. Nvidia's most powerful Blackwell-based chips remain unobtainium in the Chinese market, with little indication that'll change any time soon."
"The Trump administration had previously proposed a 15 percent sales tax to restore sales of H20s, a nerfed version of the H200, in China back in July. Despite this, Hopper sales have fallen off considerably over the past year, accounting for $2 billion in sales in Q3. Of that, H20 sales only account for $50 million, with CFO Colette Kress placing the blame on "geopolitical issues and the increasingly competitive market in China.""
Nvidia plans to begin shipping H200 accelerators to Chinese customers in time for Chinese New Year after receiving legal export clearance. Initial fulfillment will use existing inventory of 5,000–10,000 HGX boards, equating to roughly 40,000–80,000 GPUs, and appears to prioritize the SXM H200 variant optimized for training. Nvidia will remit 25 percent of revenues from these sales to the US government while its latest Blackwell chips remain blocked in China. Hopper-series sales have declined, with H20 sales near $50 million. Final shipment timing depends on approval from Beijing amid domestic pressure on hyperscalers.
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