$NVDA down 0.8% premarket.
H1 China datacenter AI accelerator share is out. Nvidia dropped to 34%, Huawei surged to 28%, followed by T-Head 7%, Cambricon 5%, Kunlun 4%, Hygon 3%.
The real kicker: non-GPU inference accelerators shipped 1.016M units, up 80% YoY. First time in history they outnumbered GPUs in volume.
People panic "Nvidia is cooked." But Jensen already guided China revenue to zero. Can't fall below zero.
China decoupling = priced in. Watch gross margins and H100/H200 mix outside China. That's the real alpha.
H1 China datacenter AI accelerator share is out. Nvidia dropped to 34%, Huawei surged to 28%, followed by T-Head 7%, Cambricon 5%, Kunlun 4%, Hygon 3%.
The real kicker: non-GPU inference accelerators shipped 1.016M units, up 80% YoY. First time in history they outnumbered GPUs in volume.
People panic "Nvidia is cooked." But Jensen already guided China revenue to zero. Can't fall below zero.
China decoupling = priced in. Watch gross margins and H100/H200 mix outside China. That's the real alpha.