Bond.Az -- NVIDIA stock rallied +2.68% in morning trading. A Reuters exclusive revealed the U.S. government cleared 10 Chinese tech firms — including Alibaba, Tencent, ByteDance, and JD.com — to acquire H200 chips.
CEO Jensen Huang is in Beijing after an invitation from President Trump. He aims to unlock H200 chip sales in China.
Analysts turned bullish. UBS raised its price target to $275, Bank of America to $320. Nvidia's fiscal Q1 results are due May 20.
The S&P 500 gained 0.37%, Dow 0.49%, NASDAQ 0.30%. The Trump-Xi summit and new Fed Chair also boosted sentiment.
H200 deliveries could significantly impact Nvidia's revenue. China once accounted for 13% of the company's revenue.
