英偉達H20，正式限制出口

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來源：內容綜合自CNBC，謝謝。

在公佈H20需要出口許可之後，英偉達週二宣佈，將計入約55億美元的季度費用。盤後交易中，該公司股價下跌了6%。

英偉達在一份檔案中表示，4 月 9 日，美國政府告知英偉達，其需要獲得許可證才能將晶片出口到中國和其他幾個國家。此次披露是迄今為止最強烈的跡象，表明英偉達的歷史性增長速度可能因美國政府加大對晶片出口限制而放緩。美國政府稱，英偉達的晶片可用於製造軍用超級計算機。

在拜登總統執政期間，美國於2022年限制了人工智慧晶片的出口，並於次年更新了規則，以阻止更先進的人工智慧處理器的銷售。H20是一款為中國設計的人工智慧晶片，其設計符合美國的出口限制規定。據估計，它在2024年創造了120億至150億美元的收入。

英偉達執行長黃仁勳在2月份公司上一次季度財報電話會議上表示，來自中國的收入已降至出口管制前水平的一半。黃仁勳警告稱，中國市場的競爭正在加劇，英偉達連續第二年在其年度報告中將華為列為競爭對手。

根據 Nvidia 的年度報告，中國是 Nvidia 銷售額第四大的地區，僅次於美國、新加坡和臺灣。在截至 1 月份的財年中，該公司 53% 的銷售額來自美國公司。

Nvidia 的 H20 晶片與美國和其他國家使用的 H100 和 H200 AI 晶片相當，但其互連速度和頻寬較慢。它基於 2022 年推出的上一代 AI 架構 Hopper。Nvidia 目前專注於銷售其當前一代 AI 晶片 Blackwell。

中國公司 DeepSeek 在今年早些時候推出了顛覆市場的競爭性人工智慧模型 R1 ，該公司在其研究中使用了 H20 晶片。

除了現有的中國出口管制外，根據拜登政府首次提出的“人工智慧擴散規則” ，英偉達還從下個月開始面臨新的出口限制。

英偉達辯稱，對其晶片的進一步管控將扼殺競爭，甚至可能削弱美國在技術領域的競爭力。該公司此前表示，在2022年出口管制實施後，已將包括測試和分銷在內的部分業務遷出中國。

在上個月的公司會議上，當被問及中國出口管制時，英偉達執行長黃仁勳表示，公司致力於遵守法律，但他也指出，全球約有一半的人工智慧研究人員來自中國，其中許多人在美國人工智慧實驗室工作。

英偉達在週二提交給美國證券交易委員會的檔案中表示，美國政府週一表示，H20 晶片的許可要求將“無限期”有效。

英文報道原文

Nvidia said on Tuesday that it will take a quarterly charge of about $5.5 billion tied to exporting H20 graphics processing units to China and other destinations. The stock slid 6% in extended trading.

On April 9, the U.S. government told Nvidia it would require a license to export the chips to China and a handful of other countries, the company said in a filing.

The disclosure is the strongest sign so far that Nvidia’s historic growth could be slowed by increasing export restrictions on its chips, which the U.S. government says can be used to create supercomputers for military uses.

During President Biden’s administration, the U.S. restricted AI chip exports in 2022 and then updated the rules the following year to prevent the sale of more advanced AI processors. The H20 is an AI chip for China that was designed to comply with U.S. export restrictions. It generated an estimated $12 billion to $15 billion in 2024.

Nvidia CEO Jensen Huang said on the company’s last quarterly earnings call in February that revenue from China had dropped to half of pre-export control levels. Huang warned that competition in China is growing, and for the second straight year, Nvidia listed Huawei as a competitor in its annual filing.

China is Nvidia’s fourth-largest region by sales, after the U.S., Singapore, and Taiwan, according to Nvidia’s annual report. 53% of its sales went to U.S. companies in its fiscal year that ended in January.

Nvidia’s H20 chip is comparable to the H100 and H200 AI chips used in the U.S. and other countries, but it has slower interconnection speeds and bandwidth. It’s based a previous generation of AI architecture called Hopper introduced in 2022. Nvidia is now focusing on selling its current generation of AI chips, called Blackwell.

DeepSeek, the Chinese company whose competitive AI model R1 unveiled earlier this year upended markets, used H20 chips in its research.

In addition to the existing Chinese export controls, Nvidia also faces new restrictions on what it can export starting next month, under “AI diffusion rules” first proposed by the Biden administration.

Nvidia has argued that further controls on its chips would stifle competition and potentially even erode U.S. competitiveness in technology. The company previously said it moved some of its operations, including testing and distribution, out of China after the 2022 export controls.

At the company’s conference last month, when asked about Chinese export controls, Nvidia CEO Jensen Huang said that the company works to comply with the law, but he also noted that about half of the world’s AI researchers are from China, and many of those work at U.S.-based AI labs.

In Tuesday’s SEC filing, Nvidia says that the U.S. government said on Monday that the license requirement for H20 chips would be in effect “for the indefinite future.”

參考連結

https://www.cnbc.com/2025/04/15/nvidia-says-it-will-record-5point5-billion-quarterly-charge-tied-to-h20-processors-exported-to-china.html

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