Chinese companies ordered $16 billion worth of Nvidia accelerators last quarter

The Chinese market remains important to Nvidia even as tighter U.S. export controls prevent the company from shipping most of its accelerators to China. Even so, Chinese customers ordered at least $16 billion worth of accelerators from Nvidia in the first quarter.

Image source: NVIDIA

The Information reported this the day before, citing informed sources. Among the main customers of such products were ByteDance, Alibaba Group, and Tencent Holdings. Back in February, as Reuters reported, there was a surge in demand for H20 computing accelerators, which can still be legally supplied to China. Last month, Chinese server system manufacturer H3C also warned of a threat of a shortage of H20 accelerators in China after April amid growing demand for them.

Last year, Nvidia earned more than $17 billion in revenue in China, including Hong Kong. Of course, against the backdrop of the company’s growing total revenue by leaps and bounds, this is not such a large share, but in absolute terms it is large enough for Nvidia to value the Chinese market. It turns out that in the first quarter of this year alone, the company received almost as many orders from China as in the entire last fiscal year.