$NVDA

NVDAUSDT

Perp

235.2

+2.91%

is gaining roughly 2% in premarket trading and has pushed above its previous 52-week high after reports that the U.S. approved H200 chip sales to 10 Chinese companies, including $BABA

BABAUSDT

Perp

137.92

-4.16%

and ByteDance, although deliveries have not started yet.

China accounted for around 13% of Nvidia’s revenue last year, so the H200 approvals improve visibility around future market access, even as shipment timelines remain a key factor.

Attention is now shifting toward two major near-term catalysts: the upcoming summit developments and Nvidia’s May 20 earnings report.