Nvidia has told its Chinese customers it has limited supplies of H20 chips, the most powerful AI chip it had been allowed to sell to China under U.S. export restrictions, The Information reported on Saturday.

NVIDIA Corporation (NASDAQ:NVDA) is one of the AI Stocks Investors Are Watching Closely. On July 16, Needham analyst Rajvindra Gill raised the price target on the stock to $200 from $16.

Nvidia's H20 chip has been granted approval by the US government to be sold in China, despite being a lower-spec version compared to its original design. This approval has quickly led to a surge in demand,

Nvidia stock hits record highs as U.S. export licenses unlock access to China’s $50B AI market. Click here to read an analysis of NVDA stock now.

At the Beijing Expo, Jensen Huang also announced plans for a new chip for Chinese clients that is designed for robotics and smart factories.

Nvidia said it has filed applications to resume selling H20 GPUs in China and has received assurances that licenses will be granted.

Nvidia Corporation leads the global AI revolution. U.S.-China export breakthroughs boost H20 GPU sales in China, driving revenue. Click for my NVDA update.