New York, Jan 14, 2026, 09:33 EST — Regular session
Nvidia shares ticked up 0.5% to $185.81 in early Wednesday trading after Reuters reported that Chinese customs officials instructed agents to block imports of the company’s H200 AI chips. This move complicates any potential restart of sales in China. The report added that Chinese regulators have warned local tech firms against buying the chips unless absolutely “necessary,” injecting fresh uncertainty into a market that has closely watched China access as a key driver for Nvidia’s stock. 1
The timing is critical as Washington has just laid out new rules enabling Nvidia to export the H200 chip to China again, after years of tightening restrictions on advanced semiconductors. Per the guidelines, the chips must undergo testing by a third-party lab, Chinese buyers can’t purchase more than half the volume sold to U.S. customers, and security controls must be in place to prevent military use, Reuters reported. Nvidia described the plan as a “thoughtful balance,” while Seaport Research analyst Jay Goldberg called it a potential “Band-Aid” that could prove difficult to enforce. 2
Chip stocks opened unevenly, as the Nasdaq-focused QQQ slipped 0.1%, but the iShares Semiconductor ETF gained roughly 0.9%. Traders seemed to favor semiconductors despite fresh China-related news. The broader SPY barely moved.
Nvidia’s H200 isn’t some niche gadget. It’s a top-tier data-center chip designed for training and running AI software, and demand from China has been robust enough to shift both prices and production schedules.
Investors face a tricky balancing act with two gatekeepers. Even a U.S. license won’t matter if customs blocks shipments at the border, and Beijing’s stance can shift rapidly once trade talks come into play.
There’s also a clear downside risk: China could escalate to an outright ban, while U.S. restrictions remain stringent, keeping Nvidia sidelined in the world’s No.2 economy and giving local competitors room to maneuver. Even if shipments get back on track, the compliance hurdles might drag out deliveries and muddy the link between demand and revenue this quarter.
On the upside, if Beijing begins handing out exemptions or allows previously blocked orders to proceed, it would probably signal the backlog is set to clear.
Nvidia’s upcoming quarterly report will be the next major event, with investors seeking updated guidance on data-center demand and any clear figures on China exposure amid the new export rules. The company plans to release its fourth-quarter fiscal 2026 results on Feb. 25. 3
