NVIDIA to Generate $12 Billion in China Despite U.S. Export Controls

New H20 AI GPUs drive significant revenue as the company adapts to restrictions, outpacing domestic competitors.

NVIDIA expects to sell over one million H20 AI GPUs in China in 2024.
The H20 GPUs comply with U.S. export regulations but still offer competitive performance.
Chinese tech giants prefer NVIDIA's ecosystem, making a switch to Huawei costly and time-consuming.
Despite export controls, NVIDIA's revenues from China grew over 50% year-on-year in the most recent quarter.
Huawei's Ascend 910B sales are projected to be nearly half of NVIDIA's H20 sales.