Chinese Nvidia H200 assembler New Matrix lists an empty Beijing building as its address

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Chinese Nvidia H200 assembler New Matrix lists an empty Beijing building as its address

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Nvidia

The Trump administration approved a Chinese company, New Matrix, to assemble Nvidia's H200 chips into AI computers. According to The New York Times, its listed address is an empty building. Meanwhile, H200 sales in China remain a small part of Nvidia's business.

The Trump administration approved New Matrix earlier this year to assemble Nvidia's advanced H200 chips into AI computers. According to The New York Times, the address the company lists is an empty building.

The building sits in a recently built industrial park on Beijing's northwest edge. The Times describes a hollow gray structure with wires hanging from the ceiling where light fixtures should be.

How the H200 reached Chinese buyers

New Matrix's role is assembly. It was cleared to build H200 processors into computer systems used to train and run artificial intelligence models.

The H200 became legally available to Chinese buyers after President Trump allowed its sale to China. The policy shift came on December 8, 2025, with a 25% cut of the revenue going to the US.

Then the process became more formal. Beginning in mid-January 2026, the US Commerce Department moved to case-by-case reviews of Nvidia's chip exports.

Chinese approvals stall the pipeline

Beijing has its own hurdles. In January 2026, it conditionally approved around 400,000 H200 chips for companies including Alibaba, ByteDance, and Tencent. Large-volume import requests have reportedly continued to run into obstacles on the Chinese side.

As a result, an estimated 600,000 H200 chips are reportedly stockpiled in Hong Kong as of early November 2026, waiting on Chinese import approvals. The Chinese government has also increasingly emphasized building domestic semiconductor capabilities.

Small revenue stake for Nvidia

The bottleneck shows up in Nvidia's results. H200 sales in China accounted for less than 1% of the company's data-center revenue in the July 2026 quarter.

Next, Crypto Briefing points to several open questions: whether US officials respond to the Times report or review New Matrix's approval, and whether Beijing approves larger H200 import volumes for firms like Alibaba, ByteDance, and Tencent.

Source: Crypto Briefing

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