Nvidia NASDAQ:NVDA may receive only a limited revenue boost from any easing of China chip restrictions, as Wells Fargo estimates the company could sell about 200,000 H200 graphics processing units to Chinese customers.
Wells Fargo said those shipments could generate roughly $6 billion to $8 billion in revenue at an average selling price of about $35,000 to $40,000 per chip. The firm described the potential sales as a modest positive because current investor expectations do not appear to include meaningful H200 demand from China.
The assessment follows reports that Chinese authorities may permit a limited number of Nvidia H200 purchases for leading domestic artificial intelligence companies facing supply constraints. The chips would reportedly be used for AI training workloads, while inference applications would continue relying on locally developed processors.
Nvidia previously received U.S. approval to ship H200 chips to China after the Trump administration eased export restrictions. The policy shift was introduced in December, formally approved in January, and finalized in May. However, Chinese regulators have yet to authorize customer purchases, leaving the timing and scale of any shipments uncertain.