Nvidia Wins H200 Chip Approval for 10 Chinese Firms While Wolfe Upholds Outperform Rating
Ten Chinese companies received approval to purchase Nvidia’s H200 AI chips, unlocking potential multi-billion-dollar data center revenue in China. Wolfe Research raised Nvidia’s 2026 earnings estimates, reiterated an Outperform rating, and named it its top AI chip pick despite calendar-2027 guidance shortfall.
1. Chinese Approval for H200 AI Chips
China’s National Development and Reform Commission granted approval for ten local firms to purchase Nvidia’s H200 AI accelerators, potentially boosting Nvidia’s data center revenue by hundreds of millions annually.
2. Wolfe Research Reiterates Bullish Stance
Wolfe Research raised its fiscal 2026 earnings estimates for Nvidia, Broadcom, and Marvell Technology, reaffirmed an Outperform rating on Nvidia, and named it its top AI chip stock pick.
3. Calendar-2027 Guidance Concerns
Analysts note Nvidia’s lack of detailed revenue visibility for calendar 2027 compared to peers, suggesting clearer guidance could narrow valuation gaps despite strong near-term prospects.
4. CEO Joins U.S. Delegation to China Summit
Nvidia CEO Jensen Huang was personally invited by President Trump to join the U.S. delegation at the China summit, positioning Nvidia at the forefront of trade discussions that may influence future chip sales.