New York, Jan 24, 2026, 12:06 PM ET — Market closed.
- As CEO Jensen Huang visits Shanghai, Nvidia awaits Beijing’s decision on its H200 AI chip
- On Friday, Nvidia, Microsoft, and AMD—key players in AI—closed up, while Broadcom and Super Micro slipped lower
- Next week’s calendar features a Fed rate decision and major tech earnings, with Microsoft reporting on Jan. 28
Nvidia’s upcoming major event isn’t a new product release. Instead, it hinges on whether China approves the company’s H200 AI chip. CEO Jensen Huang made an appearance in Shanghai on what insiders called a routine trip. (Reuters)
Investors face uncertainty heading into a packed week for the AI sector, with a Federal Reserve policy decision and a slew of megacap earnings reports. These will put to the test whether heavy data center investments are finally paying off. “It’s been a little bit of a short but steep roller-coaster ride,” said Yung-Yu Ma, chief investment strategist at PNC Financial Services Group. (Reuters)
In the final session before the weekend, Nvidia gained $2.83, or 1.5%, closing at $187.67. Microsoft jumped $14.76, or 3.3%, to $465.95. AMD added $5.90, or 2.3%, finishing at $259.68. On the downside, Broadcom dropped $5.44, or 1.7%, to $320.05. Super Micro Computer also dipped, losing $0.76, or 2.3%, to settle at $31.70.
Washington gave the green light to Nvidia’s H200 exports to China earlier this month, but with strings attached: third-party testing and limits on shipments based on U.S. sales volumes, Reuters reported. Nvidia described the decision as “strik[ing] a thoughtful balance,” while Jay Goldberg, an equities analyst at Seaport Research, called it a compromise that “might be difficult to enforce.” (Reuters)
Beijing, meanwhile, has taken a harder stance at the border. Chinese customs officials informed agents the H200 chip is barred from entering the country, according to Reuters. They also cautioned domestic tech firms against buying the chips unless absolutely necessary. “The wording from the officials is so severe that it is basically a ban for now,” said a source familiar with the situation. (Reuters)
As the weekend hits, a familiar issue with the AI boom resurfaced: supply shortages. Intel’s shares tumbled 14% on Friday following its warning about missing data-center demand targets due to capacity limits. This highlights how factors like lead times, inventory, and production constraints can sway chip stocks just as much as the AI narrative. (Reuters)
Nvidia faces a sharper challenge with China since the H200 ranks near the peak of its product range, and demand from Chinese companies is still a hot-button topic amid U.S.-China tech friction. Across the sector, even a whisper that major clients are halting orders, postponing rollouts, or moving budgets to internal solutions can send shockwaves through suppliers.
Microsoft’s next key date is Jan. 28, when it will release its fiscal 2026 second-quarter results after the market closes. The earnings call will include comments from CEO Satya Nadella and CFO Amy Hood. (Source)
Macro traders mark their calendars for the Fed’s two-day meeting on Jan. 27–28. The policy statement drops at 2:00 p.m. ET on Jan. 28, followed by a press conference at 2:30 p.m. ET. (Federal Reserve)
The risk for AI bulls is that multiple pressures hit at once: a tough move from China undercuts Nvidia’s outlook, a stronger inflation print shifts the Fed’s stance unfavorably, or earnings reports reveal rising costs without clear returns. Lately, AI stocks haven’t been behaving like long-term plays.
Wall Street’s reopening will put Nvidia’s H200 progress in China under the microscope, followed closely by the Fed’s guidance and Microsoft’s earnings due Jan. 28.
