Nvidia has confirmed its first shipments of H200 data-centre processors to China under a new US licensing scheme, ending a months-long lockout.
However, the sales accounted for less than 1 per cent of the company’s US$89 billion data-centre revenue in its second quarter, which ended on July 26.
The US chip giant’s US$108 billion third-quarter revenue forecast continued to assume no data-centre computing revenue from China.
Despite the muted contribution from China, Nvidia struck an upbeat tone on global demand. The company said it expected 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”, adding that Nvidia’s available supply allowed it to confidently forecast growth at that level.
“The unconstrained [growth] would be a lot higher,” Huang said in an earnings call webcast on Wednesday, adding that the company had secured significant capacity but still needed “a lot more”. He said hyperscalers represented only about half of the opportunity, with the remainder coming from enterprises, neo clouds and sovereign AI projects.
