Because of export restrictions, Nvidia has repeatedly warned investors that revenue from China would likely remain limited.

Nvidia has repeatedly warned investors that revenue from China would likely remain limited because of export restrictions, the company said. During an appearance on CNBC in May, Chief Executive Jensen Huang said he had advised investors to expect nothing from Chinese sales, reflecting the uncertainty surrounding U.S. licensing decisions. The comments came as a senior Commerce Department official told Congress that the United States has approved only a limited number of shipments of Nvidia's H200 artificial intelligence chips to China and Hong Kong. Jeffery Kessler, the U.S. Under Secretary of Commerce for Industry and Security, told lawmakers during a congressional hearing on Tuesday that shipments of Nvidia's H200 processors have remained minimal despite export licenses being issued earlier this year. The bottom line is very few shipments against licenses for H200s and equivalents have taken place, Kessler said, according to CNBC. An Nvidia spokesperson declined to comment on Kessler's remarks. For more than two years, Nvidia has been navigating increasingly stringent U.S. export controls designed to limit China's access to advanced semiconductor technology. The H200 belongs to Nvidia's Hopper generation of AI accelerators. Although the H200 is no longer Nvidia's most advanced processor, it remains a powerful chip capable of supporting sophisticated AI training and inference workloads.