Up to 600,000 Nvidia AI Chips Stockpile in Hong Kong Awaiting China Import Approvals

Around 600,000 Nvidia advanced artificial intelligence chips are stockpiled in Hong Kong as Beijing withholds mainland import approvals for large-scale shipments. Despite strong domestic demand, Chinese regulators have blocked bulk entries, though several major internet companies each obtained roughly 10,000 H200 chips in recent months via indirect routes. Tightened U.S. export controls and Beijing's regulatory bottleneck have driven buyers toward secondary markets. By late October, an eight-card H200 server reached over 6 million yuan ($900,000)—nearly triple its price from a year earlier—while Blackwell-based systems commanded over 20 million yuan.