The twist is that the bottleneck has moved from US permission to Chinese industrial policy. Alibaba, Tencent, ByteDance and others may be licensed, but orders have not materialized.
NVIDIA’s Jensen Huang joined Trump’s Beijing trip as the company tried to revive a China data-center business it has said was effectively near zero.
If Beijing keeps the door closed, the biggest beneficiaries are domestic suppliers such as Huawei and Alibaba’s chip arm, while the US revenue-share idea produces nothing on zero sales.
参考資料: U.S. clears H200 chip sales to 10 China firms as Nvidia CEO looks for breakthrough（CNBC）, U.S. reportedly approves Nvidia H200 sales to 10 Chinese firms including Alibaba, ByteDance, but deals stall（TrendForce）, Trump brought 17 CEOs to China only two got seats on Air Force One（24, 7 Wall St）; CocoLoop