Nvidia stock jumps premarket as China clears H200 chip buys for ByteDance, Alibaba and Tencent
Nvidia shares rose 1.6% to $191.45 premarket after China approved the purchase of over 400,000 H200 AI chips for ByteDance, Alibaba, and Tencent, sources said. The licenses include restrictions and some buyers have not placed orders yet. Traders are watching the Fed’s decision and tech earnings for signs on AI spending. Microsoft unveiled a new in-house AI chip, increasing competition for Nvidia.