Nvidia Stock Rises. The Tech Rally, China News, and More Propelling Shares Higher.

Nvidia stock has had a bad November, but it remains more than 30% up in 2025. (David Paul Morris/Bloomberg)

Key Points

• Nvidia shares rose, potentially boosted by reports the White House may permit more chip sales to China.
• The Commerce Department is reviewing its policy on high-end chip sales, which could allow Nvidia to sell its H200 AI chip to China.
• Alibaba’s shares gained after its Qwen AI chatbot app achieved over 10 million downloads, indicating strong consumer AI demand.

Nvidia stock found its direction on Monday, eventually joining the Nasdaq Composite in rallying.

Shares went from declines to gains in morning trading. In midday trading, they were up 2.3% at $182.97. The Nasdaq was up about the same amount.

There were a few bits of news that are affecting shares beyond the broad move higher in U.S. tech stocks.

First, the White House is considering letting Nvidia sell more of its chips to China, according to two reports at the end of last week from Reuters and Bloomberg, both of which cited anonymous sources.

The Trump administration could allow Nvidia to sell its H200 AI chip to China, according to the reports, as the U.S. Department of Commerce reviews its policy banning such high-end chip sales to the country.

“The regulatory landscape does not allow us to offer a competitive datacenter GPU in China, leaving that massive market to our rapidly growing foreign competitors,” a Nvidia spokesperson told Barron’s in an emailed statement. The Commerce Department didn’t immediately respond to a request for comment.

A trade rift between Washington and Beijing has weighed on Nvidia, a key global player in the provision of chips powering the AI boom, though there have recently been signs of easing tensions.

Also on the China front, shares of Alibaba —the e-commerce giant that has increasingly pushed into the AI business— jumped on Monday amid a narrative that could also benefit Nvidia.

American depositary receipts, or ADRs, of Alibaba —essentially the company’s U.S.-listed stock—gained 4.6% early Monday. It followed news that the company’s Qwen AI chatbot app had racked up more than 10 million downloads in the first week since its public beta launch.

The app’s popularity may not just be good news for Alibaba but also the wider AI landscape, including Nvidia. One of the concerns amid talks of an AI stock bubble that could burst is the question of just how much consumer demand there is for AI applications. Qwen’s popularity suggests the sector still has room to run on the consumer front.

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