Nvidia (NASDAQ:NVDA) shares moved higher in premarket trading after Reuters reported that the United States has approved roughly 10 Chinese companies to purchase Nvidia’s H200 artificial intelligence chips, although shipments have not yet begun.
The report comes as Nvidia chief executive Jensen Huang attempts to revive stalled sales efforts during a closely watched visit to China this week.
Shares of the AI chipmaker rose 1.8% in Thursday premarket trading following the news.
Jensen Huang Joins Trump Delegation to China
Reuters reported that Huang was not originally included in the White House delegation traveling to Beijing, but later joined the trip after receiving an invitation from Donald Trump.
According to the report, Trump picked up Huang in Alaska while traveling to the summit with Xi Jinping, fueling speculation that the visit could help restart Nvidia’s efforts to sell H200 chips in China.
Major Chinese Technology Firms Receive Approval
The U.S. Commerce Department has reportedly authorized around 10 Chinese companies — including Alibaba Group, Tencent, ByteDance and JD.com — to purchase H200 chips.
Several distributors, including Lenovo and Foxconn, have also reportedly received authorization. Each approved buyer is allowed to acquire up to 75,000 chips either directly from Nvidia or through approved intermediaries.
Lenovo confirmed that it is “one of several companies approved to sell H200 in China as part of Nvidia’s export license,” according to the Reuters report.
Political Pressure in China Continues to Delay Deals
Despite the approvals from U.S. authorities, Reuters said no transactions have yet been finalized. Chinese companies reportedly became more cautious following guidance from Beijing, while pressure has reportedly increased within the Chinese government to either block or closely review potential purchases.
According to Reuters, the shift in sentiment was partly triggered by recent changes on the U.S. side, although the exact nature of those changes remains unclear.
Nvidia Seeks to Rebuild Position in China’s AI Market
Before tighter U.S. export restrictions were introduced, Nvidia controlled approximately 95% of China’s advanced AI chip market.
China previously accounted for around 13% of Nvidia’s total revenue, while Jensen Huang has estimated that China’s artificial intelligence market alone could be worth $50 billion this year.