Nvidia ships first H200 chips to China but forecasts no data-centre revenue

Nvidia has confirmed its first shipments of H200 data-centre processors to China under a new US licensing scheme, ending a months-long lockout, but sales accounted for less than 1 per cent of its US$89 billion data-centre revenue in the second quarter ending July 26. The company's US$108 billion third-quarter revenue forecast continued to assume no data-centre computing revenue from China, despite the initial shipments. Nvidia struck an upbeat tone on global demand, expecting revenue to grow by about 70 per cent in its 2028 financial year, describing the forecast as supply constrained. CEO Jensen Huang said actual demand was "much greater than 70 per cent", with available supply allowing confident forecasting at that level. He noted hyperscalers represented only about half the opportunity, with the rest from enterprises, neo clouds and sovereign AI projects.