Nvidia Corp. secured a US government license to ship a small number of H200 AI chips to China, marking a limited breakthrough in the company's efforts to re-enter the Chinese market. The license allows exports of the less advanced processors, subject to US inspection and a 25% duty.

However, the company cautioned that Beijing's approval remains uncertain. Nvidia CFO Colette Kress told investors the company hasn't generated any revenue from these shipments and isn't including China data-center revenue in its first-quarter outlook. The political standoff between Washington and Beijing has severely restricted Nvidia's ability to sell its most advanced chips in China.

The H200 represents an older-generation chip that the Trump administration deems exportable to China. Meanwhile, Chinese authorities are supporting domestic rivals like Huawei Technologies and Cambricon Technologies, along with startups MetaX Integrated Circuits and Moore Threads Technology. Nvidia executives have warned that Chinese chipmakers could disrupt the global AI industry structure over time.