NVIDIA H20's lifting of restrictions boosts computing power concept, Lenovo Group rises nearly 3%, achieving three consecutive days of gains

According to Zhitong Finance APP, on July 15, Jensen Huang, founder and CEO of NVIDIA (NVDA.US), stated that the United States has approved the sale of the H20 chip to China; at the same time, NVIDIA will launch a new graphics card, RTXpro, specifically designed for computer graphics, digital twins, and artificial intelligence. Affected by this news, the Hong Kong stock market's computing power sector surged again today, with multiple stocks collectively rising. Lenovo Group (00992), as a leader in computing power and an important partner of NVIDIA, saw its stock rise nearly 4% during the session, closing up 2.75%, returning to above HKD 10, rebounding 54% from its low point this year. This marks the third consecutive trading day of gains for the stock. The total trading volume was 89.7 million shares, an increase from the 50-day average trading volume of 70.9 million shares.

NVIDIA officially stated, "The U.S. government has assured NVIDIA that it will grant licenses, and NVIDIA hopes to start deliveries as soon as possible."

Bloomberg believes this indicates a significant shift in the stance of the Trump administration.

"NVIDIA's resumption of H20 sales to China is clearly a positive development," said Vey-Sern Ling, managing director of Credit Suisse. "This is not only beneficial for the company but also for the AI semiconductor supply chain and Chinese tech platforms that are building AI capabilities. This is also a good thing for Sino-U.S. relations."

Since NVIDIA's market value surpassed USD 4 trillion last week, topping the global market value rankings, the enthusiasm for AI narratives has gradually reignited in the market.

Western Securities believes that with the gradual warming of market sentiment and improvements in industry fundamentals, overseas AI computing power and application-related companies are showing strong rebound momentum. From chip manufacturers to cloud service providers, and various vertical AI application companies, most companies' stock prices have rebounded to previous highs, with industry leaders like NVIDIA and Microsoft even continuously breaking historical highs. This fully reflects the high recognition of overseas capital markets for the industrial transformation driven by AI technology iteration. In contrast, the AI industry chain focused on the domestic market, whether it is the foundational computing power chip companies, intermediate algorithm service providers, or application-level solution companies across various industries, has not seen a similar strong rebound as the overseas market. As a result, a divergence in stock prices has emerged between overseas and domestic AI chains, forming a scissors gap.

With the continuous advancement and performance improvement of domestic AI models, and the acceleration of the monetization process of AI applications, the investment value of the domestic AI chain is gradually becoming apparent. It is recommended to further enhance attention and emphasis on the domestic AI chain. In the AI server sector, Western Securities suggests paying attention to Lenovo Group, Inspur Information, and Huqin Technology