Nvidia (NVDA, Financials) just caught a major break — and Wall Street noticed. After months of chip sales to China being on ice due to export restrictions, the U.S. government is now handing out licenses again. That means Nvidia can go back to doing what it does best: selling serious AI hardware at serious scale.
Needham's Rajvindra Gill wasted no time updating the numbers. The firm boosted its price target to $200, keeping its Buy rating intact. Why? Because Nvidia can now resume shipping its high-performance H20 chips — the same ones that had $2.5 billion in blocked sales earlier this year and another $8 billion in paused orders for Q2.
With the green light back on, Needham's base-case forecast is $3 billion in H20 sales every quarter starting in October. And that's before factoring in new Blackwell GPUs, like the B30 and B40, which are expected to hit the Chinese market by late summer.
Nvidia's been the undisputed leader in AI chips, from powering data centers and autonomous vehicles to pushing the edge of what's possible in cloud computing. The export ban slowed the momentum a bit, but this reversal changes the game.
For investors, this isn't just about one quarter. It's a reminder that Nvidia's global demand story — especially from AI-hungry markets like China — is far from over.
