NEW YORK, Jan 25, 2026, 16:23 EST — Market closed
- Nvidia ended Friday on a positive note, boosted by new indications that China could ease restrictions on H200 chip orders.
- CEO Jensen Huang’s visit to China sharpened attention on the ongoing regulatory tug-of-war surrounding shipments.
- Investors are bracing for a packed week with key rate decisions and major tech earnings reports on the docket.
Nvidia shares ended Friday up $2.83, or 1.5%, at $187.67. The jump came after Bloomberg reported that Chinese regulators instructed Alibaba, Tencent, and ByteDance to get ready to place orders for Nvidia’s H200 AI chips. These AI chips are specialized processors designed to train and run artificial intelligence models. 1
The China factor is crucial—it directly impacts how investors forecast Nvidia’s sales and margins amid a market clouded by stricter export controls. If shipments gain clarity, revenue projections could jump quickly; a setback would pull them down just as fast.
This comes at a tricky time for risk appetite. Traders face a Federal Reserve decision and a packed schedule of big tech earnings, while interest rates continue to heavily influence growth stock valuations.
Mizuho’s Jordan Klein advised caution on the China news, saying, “I would not get overly excited and start boosting your rev / EPS estimates just yet.” EPS, or earnings per share, is a key profit metric Wall Street relies on to compare firms. Klein noted that many investors see China mostly as upside optionality since approvals could still be reversed. 2
That caution isn’t unfounded. Any China approval might come with conditions, and traders continue to warn about abrupt policy shifts on both sides of the Pacific.
CEO Jensen Huang is currently in Shanghai, according to a source familiar with the situation, as Nvidia awaits Beijing’s decision on whether to approve imports of its H200 chip. Chinese officials have informed customs agents that the chip is banned from entering the country, Reuters reported earlier. Nvidia declined to comment, Reuters added. 3
In a separate development, a regulatory filing on Friday revealed that board member Persis Drell stepped down effective Jan. 20. The departure was to chase a new career path and not due to any conflict with the company. 4
Chip stocks showed a mixed bag on Friday. AMD climbed 2.3%, but Broadcom dropped 1.7%, and Qualcomm edged down 1.2%, highlighting how fast sentiment can shift within the sector.
The macro calendar offers little relief. The Fed meets Jan. 27-28, and all eyes remain on their inflation comments and rate guidance. 5
Nvidia’s near-term signal hinges on Monday’s opening trade and any fresh official word from Beijing about H200 imports and related rules. A swift reversal in tone could drag the stock down quicker than another round of tentative “in-principle” announcements.
Nvidia plans to release its fiscal 2026 fourth-quarter results on Feb. 25. Investors will probably push for clear updates on China shipments and order visibility. 6
