China may have approved Nvidia H200 AI GPU for startup that wiped out $600 billion from American chipmaker’s market value

China has reportedly granted conditional approval for one of the country’s leading AI startup, DeepSeek, to purchase Nvidia’s high-performance H200 chips. According to a report by news agency Reuters, the conditions, however, are yet to be finalised by China’s state planner, the National Development and Reform Commission (NDRC). The move comes almost exactly a year after the startup triggered a $600 billion wipeout of Nvidia’s market value.

Citing sources familiar with the matter, Reuters said that Beijing has greenlit DeepSeek, alongside tech giants ByteDance, Alibaba, and Tencent, to acquire the H200, which is Nvidia’s second most powerful AI processor.