Nvidia $NVDA ( ▲ 1.53% ) is catching a bid after Bloomberg reported that Chinese officials told top domestic tech “champions” they can move forward with preparations to import Nvidia’s H200 AI chips.
Shares were up about 1.5% in early trading after the report.
The “will Xi, won’t Xi?” chip saga is back
According to Bloomberg, Chinese officials gave the green light for major companies like Alibaba $BABA ( ▼ 2.23% ) , Tencent $TCEHY ( ▲ 0.54% ) , and ByteDance to progress with planning for H200 imports.
Notably, they’re reportedly cleared to start discussing specifics like how many chips they’d actually need, which is the part that matters most if this is going to become real demand.
This is a big shift in tone after a run of recent headlines that made it look like the door was slamming shut.
Why the news cycle has been such a mess
This story has been whiplash for weeks.
Bloomberg had previously suggested China could allow H200 imports for commercial use as soon as this quarter, but that was followed by a wave of bearish reporting from outlets like The Information, the Financial Times, and Reuters suggesting access would be limited and suppliers were even pausing production due to what looked like an import ban.
So which is it?
It’s basically policy tug of war.
China’s two opposing goals
This is the core tension driving the conflicting headlines:
China wants to boost AI capabilities fast, which means importing the best chips available
China also wants to protect and accelerate domestic semiconductor development, which means limiting reliance on foreign chips
Those goals collide directly, and the result is the chaos you’re seeing in the reporting.
Bottom line
If this Bloomberg report holds up, it’s a meaningful tailwind for Nvidia’s China narrative, especially after the recent streak of “ban-ish” headlines.
But the bigger takeaway is: this isn’t a straight yes or no. It’s going to stay a push-and-pull story, because China’s policy priorities are pulling in opposite directions.