With the H20 license officially approved and China orders flowing again, Nvidia’s China strategy has clearly paid off. Jensen Huang’s ability to navigate both Washington and Beijing—meeting Trump on one hand and showing up at the China Chain Expo on the other—signals a masterclass in geopolitical balancing. The fact that he secured an indefinite export license for the H20 speaks volumes about Nvidia’s long-term positioning in China, especially with ByteDance now emerging as a top customer.
The demand from China, especially after the LLM frenzy and DeepSeek’s explosion, is nothing short of massive. $16 billion worth of chips in Q1 alone is a staggering figure, and this could very well mark the beginning of a strong earnings cycle. Combine that with the symbolic momentum of Jensen rocking his leather jacket, it feels like another breakout moment is brewing. That’s why I’m going with $180!
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