英伟达H20，正式限制出口

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来源：内容综合自CNBC，谢谢。

在公布H20需要出口许可之后，英伟达周二宣布，将计入约55亿美元的季度费用。盘后交易中，该公司股价下跌了6%。

英伟达在一份文件中表示，4 月 9 日，美国政府告知英伟达，其需要获得许可证才能将芯片出口到中国和其他几个国家。此次披露是迄今为止最强烈的迹象，表明英伟达的历史性增长速度可能因美国政府加大对芯片出口限制而放缓。美国政府称，英伟达的芯片可用于制造军用超级计算机。

在拜登总统执政期间，美国于2022年限制了人工智能芯片的出口，并于次年更新了规则，以阻止更先进的人工智能处理器的销售。H20是一款为中国设计的人工智能芯片，其设计符合美国的出口限制规定。据估计，它在2024年创造了120亿至150亿美元的收入。

英伟达首席执行官黄仁勋在2月份公司上一次季度财报电话会议上表示，来自中国的收入已降至出口管制前水平的一半。黄仁勋警告称，中国市场的竞争正在加剧， 英伟达连续第二年在其年度报告中将华为列为竞争对手。

根据 Nvidia 的年度报告，中国是 Nvidia 销售额第四大的地区，仅次于美国、新加坡和台湾。在截至 1 月份的财年中，该公司 53% 的销售额来自美国公司。

Nvidia 的 H20 芯片与美国和其他国家使用的 H100 和 H200 AI 芯片相当，但其互连速度和带宽较慢。它基于 2022 年推出的上一代 AI 架构 Hopper。Nvidia 目前专注于销售其当前一代 AI 芯片 Blackwell。

中国公司 DeepSeek 在今年早些时候推出了颠覆市场的竞争性人工智能模型 R1 ，该公司在其研究中使用了 H20 芯片。

除了现有的中国出口管制外，根据拜登政府首次提出的“人工智能扩散规则” ，英伟达还从下个月开始面临新的出口限制。

英伟达辩称，对其芯片的进一步管控将扼杀竞争，甚至可能削弱美国在技术领域的竞争力。该公司此前表示，在2022年出口管制实施后，已将包括测试和分销在内的部分业务迁出中国。

在上个月的公司会议上，当被问及中国出口管制时，英伟达首席执行官黄仁勋表示，公司致力于遵守法律，但他也指出，全球约有一半的人工智能研究人员来自中国，其中许多人在美国人工智能实验室工作。

英伟达在周二提交给美国证券交易委员会的文件中表示，美国政府周一表示，H20 芯片的许可要求将“无限期”有效。

英文报道原文

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.”

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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