China's top three internet companies allegedly have stockpiled around 1 million H20 AI GPUs in anticipation of U.S export bans that took place earlier this month.

The companies spent more than $12 billion on the chips, according to the report, aiming to build up a year's supply before the new rules took effect. The H20 chips, designed to comply with earlier U.S.

Chinas leading tech firms, including ByteDance, Alibaba (HK:9988), and Tencent (HK:0700), have reportedly stockpiled close to one million units of Nvidias (NASDAQ:NVDA) H20 AI chips in anticipation of tightened U.