The world's second most valuable company has been the top beneficiary of an AI-driven spending spree by big technology companies over the past two years.

Tencent, Alibaba and ByteDance are said to have significantly increased orders of the H20 since DeepSeek gained global attention.

Despite Chinese chipmakers like Huawei developing their own AI processors, NVIDIA's H20 continues to set the industry standard. In 2024 alone, over one million H20 chips were shipped, generating a revenue of $12 billion for NVIDIA. This shows that even amid trade restrictions, NVIDIA's technology remains unrivaled in the Chinese AI market.