"Big Banks" Citigroup: China approves the purchase of H200 chips, Tencent becomes the biggest beneficiary

AASTOCKS
2026.01.29 02:32

According to foreign media reports, Chinese regulatory authorities have approved the procurement of H200 artificial intelligence chips from NVIDIA (NVDA.US) by three major technology companies: Alibaba (09988.HK), Tencent (00700.HK), and ByteDance. Citigroup issued a report stating that if the news is confirmed by the official and relevant companies, it will have a positive impact on Tencent, Alibaba, and the overall Chinese internet industry.

The report specifically pointed out that this news has the most significant positive impact on Tencent. Previously, Tencent's management stated at an earnings conference that they might consider "leasing" GPU computing power as an alternative model in the case of restrictions on direct procurement. Citigroup believes there is an increased risk of capital expenditure in 2026. The artificial intelligence industry outlook is optimistic for Tencent > Alibaba > Baidu (09888.HK)

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