• Nvidia’s RTX 5090D V2 chip was added to the list of banned products by Beijing during the Trump-Xi Summit.
• Nvidia’s gaming chip joins the likes of its H200 and H20 AI chips, which are also restricted for use in China.
• KeyBanc said earlier this week that Nvidia’s H200 chips represent a $14 billion revenue opportunity in China.

As investors buckle up for U.S. chip giant Nvidia (NVDA)'s first-quarter results after the closing bell on Wednesday, a Financial Times report said the company’s China-specific gaming chip was added to a list of banned commodities by Beijing during the Trump-Xi summit.

The FT report said Nvidia’s RTX 5090D V2 chip, whose architecture is based on the company’s flagship Blackwell chips and complies with U.S. export controls, was added to the banned list last week as part of Beijing’s efforts to reduce dependency on downgraded Nvidia products and support local chipmakers like Huawei and Cambricon.

Nvidia’s gaming chip joins the likes of its H200 and H20 AI chips, which are also restricted for use in China, to prevent U.S. firms from tapping into the lucrative Chinese market.

Huang’s Commentary On China Is Highly Anticipated

The report comes as Wall Street prepares for CEO Jensen Huang’s comments on his trip to China, the hottest topic to be discussed during the earnings call, and whether the company struck any deals.

Huang was the last-minute addition to U.S. President Donald Trump’s entourage for the Beijing summit. According to the FT report, Huang expects China’s market to eventually reopen to U.S. chip suppliers.

A KeyBanc note from earlier this week said that if China allows H200 chips, it would open up a revenue stream of over $14 billion for the company.

What Retail Thinks About NVDA

On Stocktwits, retail sentiment about NVDA turned ‘extremely bullish' from ‘bullish’ amid ‘high’ message volumes over the last 24 hours.

One user on the platform said that if China reopened, it would be a game-changer for the company.

Another user said China is a massive market that should not be sidelined.

All Eyes Now On NVDA Earnings

For the first quarter (Q1) of fiscal 2027, Koyfin estimates Nvidia to post earnings of $1.78 per share on revenue of $79.23 billion. Morgan Stanley had said earlier this week that a typical beat-and-raise pattern is likely for the company.

NVDA stock has gained over 18% so far this year, and nearly 63% over the past 12 months, outperforming the S&P 500.

Of the 61 firms covering the stock, 58 have rated it a ‘Buy’ or higher; two ‘Hold,’ and one ‘Sell,’ according to Koyfin data.

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