Nvidia To Regain Access to China With H200 Exports-UBS Stays Bullish With $235 PT

NVIDIA Corporation (NASDAQ:NVDA) is one of the Hot AI Stocks on Wall Street’s Radar. On December 9, UBS reiterated its “Buy” rating on the stock with a $235.00 price target. The rating affirmation reflects firm optimism following reports that the company may receive permission to export certain AI chips to China.

“Reuters reported today that the US Commerce Department is considering allowing Nvidia to export Hopper H200s to China, while exports of Blackwell generation are likely off the table for now. We are not particularly surprised as we discussed on our previous notes (here and here) that it was likely that negotiations on NVDA shipments will continue given China AI compute market opportunity and limited internal supply.”

The firm believes that Nvidia’s approval will only level the playing field. This is because AMD has already secured licenses to ship its MI308 chips to China, discussing a potential 15% tax payable to the U.S. government on these shipments.

The firm sees Nvidia well-positioned for $50B+ AI TAM in 2025.

“We previously estimated the domestic China AI market at ~2MM units and NVDA estimated China TAM at $50B/yr in CY2025. Based on estimates from the US government (here and here), we continue to believe that domestic alternatives may only be able to supply something in the range of $10B or ~20% of the total market, while remaining ~80% to be supplied by global vendors (NVDA, AMD).”

NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services.

While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 AI Stocks Making Headlines on Wall Street and 12 Must-Watch AI Stocks on Wall Street. 

Disclosure: None.