Nvidia’s China Puzzle Still Unsolved After Trump-Xi Talks

The New York Times, Benzinga, CNBC, Investor’s Business Daily contributed to this report.

Nvidia’s China story is still hanging in the air after the Trump-Xi summit. The company’s chief, Jensen Huang, was in China with President Donald Trump’s delegation, but the big question remains the same: will Beijing actually let Nvidia back into the market in a meaningful way?

That is far from a simple yes or no. The US has cleared sales of Nvidia’s H200 chip to about 10 Chinese firms, including Alibaba, Tencent and ByteDance, but Reuters reported that none of those deliveries has happened yet. US officials say the issue was not a major topic in the Beijing talks, which does not exactly scream breakthrough.

China, meanwhile, is not standing still. Chinese AI firms are increasingly leaning on domestic chips, especially Huawei’s, as Beijing pushes to cut dependence on Western technology. Reuters reported last month that DeepSeek had tailored a new model for Huawei chips, a pretty clear sign that the local ecosystem is getting more serious.

That is why the China debate around Nvidia has a bigger strategic edge to it than a normal sales story. CNBC’s Jim Cramer argued Nvidia should be allowed to sell AI chips in China, saying it is better for the US to keep Chinese companies tied to American technology than to push them into building direct rivals faster.

For Nvidia investors, the mood is still mixed. The company remains a dominant force in AI, but China is still a messy, politically charged market, and the latest summit did not clear that fog.