<div id="readability-page-1"><p>China's DeepSeek may have trained its next AI model on Nvidia's (NVDA) most advanced chip, even though U.S. export rules ban those sales to China. That is the claim from a senior Trump administration official in a new <em>Reuters</em> report. In fact, the news report raises two key issues at once: the first points to very strong demand for Nvidia's top chips, while the second adds fresh policy risk. Importantly, this report breaks a day before Nvidia reports its fourth-quarter earnings.</p><h3>Claim 50% Off TipRanks Premium</h3><ul><li>Unlock  hedge fund-level data  and  powerful investing tools  for smarter, sharper decisions  </li><li> Stay ahead of the market with  the latest news and analysis  and maximize your portfolio's potential</li></ul> <p>According to the official, DeepSeek used Nvidia's Blackwell chips to train a new model that could launch as soon as next week. The official said, &#34;We're not shipping Blackwells to China,&#34; and added that the chips are likely clustered at a data center in Inner Mongolia. U.S. export controls currently bar Blackwell shipments to China. Nvidia declined to comment, and DeepSeek did not respond to <em>Reuters</em>.</p> <p>At the same time, the official said DeepSeek may remove &#34;technical indicators&#34; that could reveal the use of U.S. chips. If confirmed, that would suggest the chips reached China through indirect channels. The report does not explain how the chips were obtained, and the U.S. government did not share details on how it gathered the information.</p> <p>Meanwhile, NVDA shares rose nearly 1% on Monday, closing at $191.55.</p> </div>

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<p>A report claims that China's DeepSeek may have trained an AI model using Nvidia's Blackwell chips, despite U.S. export restrictions. This raises concerns about Nvidia's export policy risks ahead of its earnings report. A senior official stated that while Blackwell shipments to China are prohibited, the chips might have reached China through indirect means. Nvidia's shares rose nearly 1% to $191.55 on the news.</p>

- China's DeepSeek may have trained its AI model on Nvidia's advanced Blackwell chips, despite U.S. export rules prohibiting sales to China, according to a senior Trump administration official.  
- The report highlights strong demand for Nvidia's chips and poses potential policy risks, coinciding with Nvidia's upcoming fourth-quarter earnings report.  
- It is suggested that DeepSeek could have acquired the chips through indirect channels, while Nvidia and DeepSeek declined to comment on the situation.

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"We're Not Shipping Blackwells to China": A DeepSeek Report Raises Fresh Export Risk for Nvidia (NVDA) Ahead of Earnings