The U.S. government has authorized the sale of Nvidia Corp.‘s (NASDAQ:NVDA) powerful H200 AI chips to 10 Chinese tech giants, including Alibaba Group Holding Ltd. ADR (NYSE:BABA) and Tencent Holdings ADR (OTC:TCEHY), but Beijing’s intervention has brought deliveries to a complete standstill.
Deals In Limbo Despite US Green Light
The U.S. Commerce Department cleared around 10 companies, including ByteDance and JD.com Inc. (NASDAQ:JD), along with distributors like Lenovo Group Ltd. (OTC:LNVGY) and Foxconn Technology Co. Ltd. (OTC:FXCOF), to purchase the coveted H200 chips, according to Reuters.
Lenovo confirmed it “is one of several companies approved to sell H200 in China as part of Nvidia‘s export license.” Each approved customer can buy up to 75,000 chips.
However, not a single delivery has been made. Reuters reports that Chinese firms pulled back following government guidance. Beijing is increasingly focused on cultivating homegrown AI alternatives, such as Huawei, to eliminate foreign tech dependencies.
U.S. Commerce Secretary Howard Lutnick highlighted …
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