Nvidia CEO Jensen Huang says chipmaker has received orders from China

Chipmaker after long delay in sales to world’s second-largest economy Nvidia The company is preparing to provide H200 processors to some customers in China, CEO Jensen Huang said on Tuesday.

“We have received purchase orders and are in the process of restarting our production,” Huang told reporters at the company’s GTC conference in San Jose, California. he said. “This is new news for all of you and it’s different from two weeks ago or three weeks ago, but that’s our situation today and our supply chain is taking action.”

Huang told CNBC that the company now has permission from both parties.

China once accounted for at least a fifth of Nvidia’s data center revenue, but the company has been locked out of the country since being told by the Trump administration in April that it would need licenses to export chips to China and a handful of other countries. The company said it would take a $5.5 billion charge due to the export restriction.

Previous export controls forced Nvidia to develop a lower-capacity chip called the H20 for Chinese markets. After initially halting those sales, President Donald Trump changed course in December and allowed Nvidia to ship its more advanced H200 chip to China. Provided that the USA makes a 25 percent cut from sales.

But as of last month, there was still almost no movement on this front.

Following the company’s quarterly earnings report on Feb. 25, CFO Colette Kress told analysts that “a small number of H200 products” have been approved for sale to China by the U.S. government, but “we haven’t generated any revenue yet.”

The delay was down to security review reports in both countries, despite Huang’s lobbying efforts in Washington DC and his visit to China earlier this year.

Nvidia reported a 73% increase in revenue in the latest quarter even without sales to China; This marks the 11th consecutive period of growth exceeding 55%.

For the current quarter, Nvidia is forecasting growth of about 77% and said its guidance assumes no data center revenue from China.

U.S. licensing requirements remain burdensome due to limits on shipments, mandatory third-party testing and cuts to sales going to the government.

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