New York, January 13, 2026, 5:04 PM EST — After-hours
- Nvidia shares nudged up roughly 0.5% during regular trading after the U.S. relaxed restrictions on exporting H200 AI chips to China.
- The new rule imposes testing, supply, and security requirements that must be met before shipments can proceed.
- China is now indicating that H200 purchases by some firms will get approval only under “special circumstances,” casting uncertainty over demand.
Nvidia shares rose Tuesday following the U.S. decision to relax export controls on its H200 AI chips to China, introducing conditions that may allow shipments to resume. The stock closed up roughly 0.5% at $185.81 and showed little movement after hours.
The policy change comes at a sensitive time for AI chip stocks, where China demand and export restrictions have dominated the conversation. For Nvidia, even a slight signal of reopening has been enough to sway investor expectations on shipments this year.
The catch: both sides are tightening the screws simultaneously. Washington lays out a pathway, yet Beijing signals it intends to ration access.
A notice in the federal register revealed exporters must pass additional checks before shipping H200-class chips, including evaluations by a qualified third-party lab and certifications regarding domestic supply. The rule also imposes limits on shipments to U.S. end-users and requires buyers to prove they have “sufficient security procedures,” according to the filing and regulation summary.
China’s government has informed certain tech firms that buying Nvidia’s H200 chips will be allowed only in “special circumstances,” including university research, according to The Information and Reuters. The guideline was called “deliberately vague,” with more talks expected but no clear definition yet of what counts as “necessary.” Reuters
Nvidia pushed back on reports that Chinese buyers must pay upfront before delivery, with a company spokesperson stressing it “would never require customers to pay for products they do not receive.” This stance is significant as it hints at the level of risk Nvidia is willing to shoulder on orders from China. Reuters
Tuesday’s session saw mixed moves among AI-linked chip stocks. Advanced Micro Devices climbed roughly 6.4%, Broadcom inched up 0.7%, while server manufacturer Super Micro Computer dropped around 5%.
Setting aside export controls, Nvidia is ramping up healthcare deals centered on its next-gen platform plans. “AI is transforming every industry, and its most profound impact will be in life sciences,” CEO Jensen Huang said as Nvidia teamed up with Eli Lilly to launch a Bay Area co-innovation lab, funded with up to $1 billion over five years. Lilly CEO David A. Ricks called the partnership a potential game-changer, saying it “could reinvent drug discovery as we know it.” NVIDIA Investor Relations
Thermo Fisher Scientific, a key player in lab instruments, unveiled a strategic partnership with Nvidia this week focusing on AI-driven lab automation. “Artificial intelligence coupled with laboratory automation will transform how scientific work is performed,” said Thermo Fisher exec Gianluca Pettiti. Nvidia’s head of healthcare, Kimberly Powell, described it as ushering in a new “lab-in-the-loop” era. Thermo Fisher Scientific Investors
Still, the bigger driver for the stock remains the China trade. The U.S. compliance rules might drag the pace of chip shipments, while Beijing’s approach hints that approvals could remain limited, even if Washington gives the green light.
Traders are closely eyeing the speed of export application approvals under the new system, along with any clarification from Chinese officials on what “special circumstances” actually entail. New restrictions from either side could rapidly shift near-term market expectations.
Investors are gearing up for Nvidia’s fiscal fourth-quarter earnings on Feb. 25. The company is set to provide fresh demand insights and explain how recent China regulations are reshaping its shipping forecasts.
