Nvidia boost as Chinese tech giants rush to buy its H20 AI chips
Chinese companies are snapping up Nvidia Corp’s (NASDAQ:NVDA, ETR:NVD) H20 AI chips, driven by soaring demand for DeepSeek’s budget-friendly AI models.
Tencent, Alibaba, and ByteDance have ramped up orders for the chip, designed specifically for China due to US export restrictions, sources say.
DeepSeek’s models are shaking up the AI world, proving powerful yet far cheaper to run.
That’s sparking a massive surge in demand for AI computing power, with businesses across healthcare, education, and cloud computing getting in on the action.
The US government is eyeing further restrictions, but for now, Nvidia is cashing in.
Analysts estimate it shipped one million H20 chips in 2024, raking in over $12 billion in revenue.
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Nvidia boost as Chinese tech giants rush to buy its H20 AI chips, source
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