TLDR:
Key Points:
- Nvidia is set to sell $12 billion worth of AI chips in China this year
- The company will deliver over 1 million of its new H20 chips, designed to bypass U.S. restrictions
Nvidia (NASDAQ:NVDA) to Sell $12B Worth of AI Chips in China
Nvidia, despite facing U.S. export controls, is set to sell $12 billion worth of AI chips in China. This includes over 1 million of its new H20 chips, priced between $12,000 and $13,000 each, which have been designed to bypass restrictions on selling AI processors to China. This number is nearly double what Huawei is expected to sell of its rival chip, the Ascend 910B. While facing competition due to restrictions, Nvidia’s new H20 chip is popular in China, with strong demand expected. The company is expected to make $12 billion from these sales, exceeding its previous fiscal year’s total China business revenue of $10.3 billion.
Investor Sentiment for NVDA Stock
TipRanks investors show very positive sentiment towards NVDA stock, with 19.6% of portfolios holding NVDA and an average portfolio weighting of 13.47%. In the last 30 days, 7.1% of investors increased their positions, indicating high confidence in the company’s future. Wall Street analysts have a Strong Buy consensus rating on NVDA stock, with an average price target of $135.81 per share, implying 5.87% upside potential.