NEW YORK, December 31, 2025, 11:52 ET — Regular session.
- Nvidia shares rose as a report said the chip designer is pressing TSMC to expand output of its H200 processors for China.
- The stock was up 0.7% at $188.82 in late-morning trading, after touching $190.51 earlier in the session.
- Investors are watching Beijing’s stance on H200 imports, Nvidia’s CES appearance on Jan. 5, and the company’s next earnings on Feb. 25.
Nvidia shares edged higher on Wednesday after a report said the company has approached Taiwan Semiconductor Manufacturing Co to ramp production of its H200 chips for Chinese customers. The stock was up 0.7% at $188.82 in late-morning New York trading. 1
The development matters because Nvidia’s data-center products sit at the center of the AI spending boom, and any change in China access can swing expectations for demand and supply. The H200 is a graphics processing unit, or GPU — a specialized chip used to train and run AI models.
It also lands in thin year-end trading, when incremental headlines can move big stocks more than usual. U.S. equity markets are closed on Thursday for New Year’s Day and reopen on Friday. 2
Sources said Chinese technology firms have ordered more than 2 million H200 chips for 2026, far above Nvidia’s reported inventory of about 700,000 units. The report said Nvidia has asked TSMC to start work on expanded output in the second quarter of 2026, even as Beijing has yet to approve H200 shipments. 3
Nvidia has told customers it prices the H200 at about $27,000 per chip, the report said, with bigger systems costing more depending on configuration. Nvidia said it continuously manages its supply chain and that licensed sales to authorized customers in China would not affect supply to U.S. clients, according to the report. 3
A separate report from the South China Morning Post said ByteDance plans to spend about 100 billion yuan ($14.29 billion) on Nvidia AI chips in 2026, if H200 sales are allowed in China. Reuters said it could not immediately verify the report. 4
Investors also continue to digest a recent disclosure that Nvidia bought Intel shares worth $5 billion in a private placement — a non-public stock sale — under a transaction announced in September. Intel said Nvidia paid $23.28 per share, or more than 214.7 million shares, according to a filing cited by Reuters. 5
In the semiconductor group on Wednesday, moves were mixed. Advanced Micro Devices was up 0.4%, while Intel was little changed.
Broader U.S. indexes slipped in the final session of 2025 as investors weighed the outlook for rates and tariffs into 2026. “Describing 2025 as ‘resilient’ might be an understatement,” said Adam Turnquist, chief technical strategist at LPL Financial. 6
For Nvidia, traders are watching for signs of how quickly China demand translates into approved shipments, and whether chip supply tightens again as the company splits capacity between older Hopper-generation parts like the H200 and newer platforms. They are also tracking how any new U.S.-China policy moves affect what Nvidia can legally ship.
Two near-term calendar items sit ahead: Nvidia is scheduled to appear at CES 2026 on Jan. 5, with the company promoting “NVIDIA Live at CES 2026” featuring CEO Jensen Huang. 7
The next major company-specific catalyst is earnings. Nvidia’s investor calendar lists its fourth-quarter fiscal 2026 financial results for Feb. 25. 8
