NVIDIA to resume H20 chip sales to China
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Nvidia, the Stock
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Needham is the latest Wall Street giant to crank up Nvidia’s price target, and the jump is big. The firm bumped its price target to $200 from $160, while maintaining a buy rating, following Nvidia’s confirmation that it’s gearing up to resume H20 chip sales to China.
At the Beijing Expo, Jensen Huang also announced plans for a new chip for Chinese clients that is designed for robotics and smart factories.
Wearing his iconic leather jacket, Huang walked into the sunny courtyard of the Mandarin Oriental hotel earlier than scheduled and took multiple questions.
Nvidia stock surged 4.47% in pre-market trading after the U.S. government cleared the company to resume H20 AI chip exports to China. This greenlight could recover billions in lost revenue after Nvidia took a $4.