US Clears H200 AI Chip Sales to China, Propelling Nvidia to Record High
NVDA sits 82% above its 52-week low of $129.16.
Summary
NVIDIA shares surged over 4% to an all-time record high, contributing to record closes for the S&P 500 and Nasdaq. This significant move was driven by reports that the U.S. has cleared approximately 10 Chinese firms to purchase NVIDIA's H200 AI chip. This development represents a material positive catalyst for NVIDIA, potentially opening up a substantial market opportunity and boosting revenue despite previous export restrictions. Investors will closely watch for further details on the volume of H200 chip orders from China and any shifts in U.S.-China trade policy. Separately, Cisco Systems (CSCO) also saw a notable 13.4% jump after announcing job cuts and raising its annual revenue forecast, citing increased hyperscaler orders and a strategic shift towards AI.
At the time of this announcement, NVDA was trading at $235.32 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.7T. The 52-week trading range was $129.16 to $236.54. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.