New York, January 9, 2026, 06:31 (ET) — Premarket
Nvidia (NVDA.O) shares were down 2.1% at $185.04 in premarket trade on Friday after a Reuters report said it is demanding full upfront payment from Chinese buyers of its H200 artificial intelligence chips. Chief Executive Jensen Huang said this week the “customer demand is high – quite high,” even as approvals on both sides remain uncertain. (Reuters)
China has been a swing factor for the AI-chip trade because the H200 is a high-end graphics processing unit, or GPU — the kind of chip used to train and run AI models. Chinese tech companies have ordered more than two million H200 processors priced at about $27,000 apiece, Tom’s Hardware reported, adding that regulators have asked some firms to pause orders while they weigh conditions tied to domestic chips. (Tom’s Hardware)
The jitters are landing on a market already touchy about valuations in AI stocks after the last two years’ gains. Nvidia slid 2.2% on Thursday, and strategist Art Hogan at B. Riley Wealth called AI a “show me” sector as investors press for proof that spending turns into revenue. (Reuters)
TechCrunch, citing Reuters, said buyers face stricter terms that leave no room for refunds or order changes after placement, though some customers may be able to use commercial insurance or asset collateral instead of cash. Nvidia declined to comment, TechCrunch reported. (TechCrunch)
Rates are the other moving part. Economists surveyed by Reuters expect U.S. nonfarm payrolls rose about 60,000 in December and see the unemployment rate easing to 4.5%, a mix that could shape expectations for the Federal Reserve’s next move. (Reuters)
In the supply chain, Taiwan’s TSMC said fourth-quarter revenue rose 20.45% from a year earlier, beating forecasts as demand linked to AI lifted chip orders. The contract chipmaker, a key Nvidia supplier, reports full results on Jan. 15, when investors will look for guidance on capital spending and capacity. (Reuters)
Other chip names were also lower before the bell: AMD (AMD.O) fell 2.5%, Broadcom (AVGO.O) slid 3.2% and Intel (INTC.O) dropped 3.5%. U.S.-listed shares of TSMC (TSM.N) were off 0.2%.
But the China opportunity cuts both ways, and policy is still the story. Investopedia reported Beijing has moved to halt some H200 orders and that the push to reopen sales has faced political pushback in the United States, leaving investors wary of counting on a clean revenue ramp. (Investopedia)
