600,000 Nvidia H200 Chips Sit in Hong Kong as Beijing Blocks Bulk Imports
NVDA sits 21% above its 52-week low of $164.27.
Summary
About 600,000 H200 AI chips are parked in Hong Kong waiting on Beijing's approval for large-volume imports into mainland China, a stockpile size not previously reported. China has let some chips through — several major internet companies each got roughly 10,000 H200s in recent months, plus small volumes via intermediaries — but has not cleared bulk shipments. The result is a two-sided squeeze: Chinese buyers still need Nvidia compute for AI training, while Beijing limits reliance on US technology. Unofficial-market prices show the scarcity, with an eight-card H200 server offered above 6 million yuan (~$900,000) by end-October, about triple a year earlier. For Nvidia this caps a large slice of China demand at a trickle and keeps the export-policy overhang alive, though the company's Q2 FY27 revenue doubled to $96.2B with Data Center up 117% and Q3 guidance of $108B, so the China channel is not the growth driver it once was. Alibaba is the named Chinese buyer most exposed to the approval bottleneck.
At the time of this announcement, NVDA was trading at $198.36 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.8T. The 52-week trading range was $164.27 to $243.37. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.