Nvidia's DGX B300 servers now fetch over 8 million yuan on China's black market, more than doubling six-month prices due to export curbs. Investor repricing of AI spending has erased about $2.7 trillion from Nvidia and peers, as hyperscaler free cash flow forecasts plunge under soaring data center build-out costs.
Nvidia’s flagship DGX B300 AI server now commands over 8 million yuan on China’s black market, up from roughly 4 million yuan six months ago. Tightened U.S. export restrictions have constrained official supply, fueling steep price increases in unauthorized channels.
Major AI-focused tech stocks, including Nvidia, have collectively lost approximately $2.7 trillion in market value this month. The selloff reflects investor concern over the massive capital required to build and scale AI infrastructure.
Analyst forecasts indicate hyperscaler free cash flow will drop sharply as spending on data centers, chips, power and networking gear ramps up. Reduced excess cash threatens funding for buybacks, dividends and future AI investments.
Sustained black market demand underscores Nvidia’s dominance but highlights supply-chain constraints. Coupled with eroding sector valuations and cash flow pressures, Nvidia faces potential margin headwinds and investor scrutiny over capital intensity.
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