A bipartisan group of US Senators is preparing a bill that would bar Nvidia $NVDA ( ▲ 3.74% ) from selling its H200 or Blackwell chips to China for 30 months, according to the Financial Times. The H200 is Nvidia’s top Hopper generation chip and Blackwell is its flagship line, but neither would be allowed to reach China under the proposed legislation.
Nvidia shares barely budged on the report, holding a gain of more than one percent. The muted reaction reflects a familiar dynamic. Positive hints about potential China sales have repeatedly failed to move the stock, including a short lived jump on November 21 after Bloomberg reported the administration was considering allowing H200 shipments.
Nvidia’s China business has essentially evaporated in 2025. Even after export bans on the H20 were lifted, demand did not return, and CFO Colette Kress has said orders “never materialized.” Reports indicate China instructed major tech firms to avoid Nvidia chips in favor of domestic alternatives.
The FT reports that the new bill will be introduced by the top Republican and Democrat on the Senate Foreign Relations east Asia subcommittee, signaling strong bipartisan support for tightening controls.