US President Donald Trump said China has not purchased Nvidia’s H200 AI chips even though Washington has already approved the sale. His remark was blunt: China “chooses not to buy” and is shifting its strategic focus toward developing domestic technology.
The comment landed just after the closely watched US-China summit, where investors had been looking for signs of a softer stance on advanced AI chip exports. Nvidia was seen as a likely beneficiary if restrictions eased and Chinese demand returned. That expectation was cut short. Trump also said the two sides reached no major technology agreement at the summit.
No Chinese Purchase Despite US Approval
According to a post circulated by Walter Bloomberg on X, Trump gave an update on Nvidia’s China sales situation. The key point was simple: the US side gave approval, but China did not place orders. That single detail shifted how the market viewed a potential source of high-value demand.
China had been seen as an important market for advanced computing and AI capacity purchases. If export limits on high-end chips had been relaxed in a meaningful way, Nvidia could have regained access to a large order pipeline. Based on Trump’s latest remarks, that scenario has not materialized.
Summit Outcome Hits Chip Stocks
The market reaction extended beyond one product line. Investors were also responding to the lack of any broader breakthrough in US-China technology talks. China’s continued push for semiconductor self-reliance added to concerns that American chipmakers may face a narrower path in the Chinese market.
Following the remarks, chip and semiconductor stocks moved lower. The source report did not provide exact percentage declines, but it said the sector saw a clear sell-off. For traders who had positioned for a rebound tied to better US-China tech relations, the summit outcome forced a fast reset.