"Nvidia's Q3 FY2026 earnings call revealed China data center revenue grew sequentially on "export-compliant copper products," but CFO Colette Kress noted it "remains well below levels prior to the onset of export controls." Nvidia has been selling export-compliant chips to China for two years, and China previously represented 20-30% of revenue share. NVDA is up 0.77% over the past week while Advanced Micro Devices ( NASDAQ:AMD) surged 12%. Nvidia's stock has shown limited movement following the news, while AMD has captured significant momentum."
"AMD's MI400 accelerators are shipping alongside Nvidia systems. Intel Corporation ( NASDAQ:INTC) CEO Lip-Bu Tan stated Intel was "caught off guard" by AI data center demand and cannot meet supply. AMD trades at 41x forward earnings with 60% YoY earnings growth and a PEG ratio of 0.56. Nvidia's forward P/E stands at 25x. The companies show different valuation metrics as the market assesses geopolitical factors."
China has indicated willingness to approve NVIDIA H200 imports, potentially with performance caps, volume quotas, or end-use restrictions that could limit commercial deployment. NVIDIA's China data center revenue grew sequentially on export-compliant copper products but remains well below pre-export-control levels. NVIDIA has been selling export-compliant chips to China for two years, and China previously accounted for 20–30% of revenue. AMD's MI400 accelerators are shipping alongside NVIDIA systems, and AMD's stock has surged while NVIDIA share movement remained muted. Valuation metrics differ, with AMD trading at higher forward multiples and stronger earnings growth. Domestic Chinese chip alternatives continue to advance.
Read at 24/7 Wall St.
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