New York, January 14, 2026, 10:21 EST — Regular session
- Nvidia slipped roughly 2.5% following reports that Chinese customs instructed agents to block H200 AI chips from entering the country
- The U.S. recently greenlit H200 exports to China, imposing fresh testing and shipment limits, yet Beijing’s position introduces uncertainty.
- Traders await policy clarity from China and Nvidia’s earnings report on Feb. 25
Nvidia shares dipped early Wednesday after Reuters reported that Chinese customs officials told agents this week the company’s H200 AI chips cannot enter China. The report added that local tech firms were advised to avoid purchasing the chips unless absolutely necessary—a move one insider called “basically a ban for now.” Rhodium Group strategist Reva Goujon suggested Beijing might be “pushing to see what bigger concessions they can get” ahead of President Donald Trump’s planned April trip to Beijing. 1
Washington has just greenlit exports of the H200 — Nvidia’s second most powerful AI chip — under new export controls restricting sensitive tech sales. According to Reuters, these rules impose third-party testing and limit how many chips can be shipped to China compared to U.S. buyers. Jay Goldberg, an analyst at Seaport Research, described the policy as a compromise but flagged enforcement challenges. 2
The news landed hard on chip stocks, a sector jittery over every U.S.-China tech policy move. Wall Street’s main indexes slipped in early trading as investors weighed big-bank earnings and new economic data, Reuters reported. 3
Nvidia dropped $4.72, roughly 2.5%, closing at $181.09. Advanced Micro Devices slipped 1.9%, Broadcom tumbled around 4.0%, and Taiwan Semiconductor Manufacturing’s U.S.-listed shares fell about 1.1%.
Reuters, citing a report from The Information, said China plans to approve H200 purchases only in special cases like university research. “We oppose blocking and restricting China,” Liu Pengyu, spokesperson for the Chinese embassy in Washington, told Reuters. 4
Nvidia told Reuters on Tuesday it does not demand upfront payment for the H200, contradicting reports that Chinese buyers must pay in full before shipment. “We would never require customers to pay for products they do not receive,” a company spokesperson said. 5
Investors are now grappling with whether Beijing will escalate to a full ban or ease restrictions to allow limited shipments. Either scenario keeps demand from China squarely in the headline risk spotlight.
The risk is straightforward: should China block chip shipments at the border while the U.S. continues tightening regulations, deliveries might grind to a halt despite paper approvals. If China allows some limited exemptions, we could see delays instead of outright lost sales.
Traders await formal word from Chinese authorities on whether the customs directive is temporary, while also looking for clues from Washington on any shifts in policy. Nvidia’s fiscal fourth-quarter earnings are set for Feb. 25, per its investor calendar — a key date investors hope will shed more light on demand, supply, and the situation in China. 6
