NVIDIA Stock Hits Record High After U.S. Approves H200 Chip Sales to China

NVIDIA's stock surged to a record $236.46 following the U.S. Department of Commerce's approval for around 10 Chinese firms, including Alibaba, Tencent, ByteDance, and JD.com, to purchase its H200 chips, according to BeInCrypto. This decision reverses previous export controls that had effectively barred China from accessing NVIDIA's advanced AI accelerators, a market valued at approximately $8 billion annually. Lenovo and Foxconn were also approved as distributors. Despite the approval, no physical deliveries have occurred as Beijing is still reviewing the transactions. NVIDIA's market cap has now surpassed $5.5 trillion, positioning it as the world's second-largest asset by value.