Wolfe Research analysts: More surprising to us were Nvidia supply chain indications that a new China-oriented B40 chip could be available as soon as Oct quarter; While it's early, channel speculation is that 50-60% of NVDA's China revenue could possibly return to quarterly revenue
Monday, June 30, 2025 7:53:36 AMEST
- In addition, channel contacts expect B300/GB300 availability in OctQ as well, representing yet another 2H catalyst.
- While our checks acknowledged that domestic China customers had been exploring Huawei solutions with greater purpose over the last 6 months, it is believed that the moat created by CUDA remains a significant obstacle to the adoption of Huawei-designed accelerators. Over time, the concern is that these restrictions are forcing developers to find alternatives for CUDA - so the longer restrictions persist, NVDA's software competitive advantage will be eroded.
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- While our checks acknowledged that domestic China customers had been exploring Huawei solutions with greater purpose over the last 6 months, it is believed that the moat created by CUDA remains a significant obstacle to the adoption of Huawei-designed accelerators. Over time, the concern is that these restrictions are forcing developers to find alternatives for CUDA - so the longer restrictions persist, NVDA's software competitive advantage will be eroded.