NVIDIA (NVDA)’s H100 chip has been priced higher than the official price due to supply shortages, but with the imminent release of the H200 chip, the market is concerned that the price of the H100 may be impacted, leading to a decline in its spot price. Despite fluctuations in the stock price, the long-term outlook remains optimistic.

Due to export restrictions from the United States to China, the spot price of NVIDIA's H100 chip in China surged to over 3 million yuan at one point, far above the official price. However, with changes in the market environment and the upcoming launch of the new H200 chip, the spot price of the H100 has recently been adjusted downwards, with prices in Hong Kong dropping to 2.6 million yuan, and domestic prices in China also seeing a decline.

Since last year, when the United States required AI chips with performance exceeding certain standards to apply for export licenses, Chinese companies have begun turning to ordering NVIDIA's custom A800 and H800 chips to cope with export controls.

NVIDIA is expected to launch the higher-performance H200 chip in the second quarter of this year, with significant improvements in memory capacity, bandwidth, and outstanding performance in large language model inference, doubling the speed and halving the power consumption.

The stock price has recently been affected by market sentiment, dropping 10% on April 19th, but rebounding by 6.18% last Friday, indicating that the market remains optimistic about NVIDIA's long-term prospects.