US govt requires license for NVIDIA H20 exports to China; ~$5.5B in Q1 charges expected

NVIDIA CORP

USG informed NVIDIA on April 9, 2025 that a license is needed for H20 and similar chips to China, Hong Kong, Macau, and D:5 countries.
License requirement effective indefinitely; targets risk of diversion to supercomputers in China.
Q1 FY2026 ending April 27, 2025 expected to include up to ~$5.5B in charges for H20 inventory, purchase commitments, and reserves.
New export controls address memory bandwidth and interconnect performance thresholds matching H20 specs.

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