Hasn't the H200 been approved long ago? Initially, China did not want companies to purchase from Nvidia.

The H200 did not suddenly change from prohibited to allowed today. The United States relaxed the export of the H200 to China in January 2026, but attached a lot of conditions, including customer reviews, restrictions on security purposes, prohibitions on military use, and a portion of Nvidia's sales income to China must be paid to the US government.

So the real new information from today's news is not that the US finally allows China to buy H200, but that the US Department of Commerce has approved a specific list of buyers, including Chinese companies like Alibaba, Tencent, ByteDance, JD.com, etc. Moreover, each approved company can purchase up to 75,000 H200 units.

As of now, none have been delivered.

The order demand for H200 from Chinese tech companies once exceeded 2 million units, far surpassing Nvidia's available inventory. However, the Chinese government does not wish for them to purchase on a large scale.

Because if Chinese companies were to purchase H200 on a large scale, it would mean continuing to strengthen their reliance on Nvidia's ecosystem, which conflicts with China's direction of promoting domestic AI chip replacements. Especially in the context of supporting domestic computing solutions like Huawei and Cambricon, Beijing cannot be willing to see the largest core companies continue to allocate incremental budgets on a large scale to Nvidia.

Now allowing some companies to buy some H200 is, for the US, a way to continue making money, continuing to take cuts, and maintaining technological control. After all, for the US, the H200 is no longer the latest generation Blackwell chip, but rather a high-end product from the previous generation Hopper architecture.

For Chinese companies, it is a proven and usable option in the short term as there is indeed a lack of computing power. For the Chinese government, it is an acceptable short-term solution to fill the gap in AI computing power.

So this situation has no downsides for the US, while it is an acceptable outcome for China at the moment.

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