$NVDA

A year ago, I called Nvidia the literal bargaining chip in US-China trade. Today the thesis is no longer mine alone. @AnthropicAI just published "2028: Two scenarios for global AI leadership" arguing compute is the entire game. Close the smuggling loopholes, kill distillation attacks, lock in a 12-24 month US lead. Same day, Reuters: US Commerce approved H200 sales to Alibaba, Tencent, ByteDance, https://t.co/jSpIwzQyat. Up to 75,000 chips each. Lenovo and Foxconn cleared as distributors. Jensen is in China this week trying to convert paper approvals into actual deliveries. The math: China was 13% of Nvidia revenue ($17B in FY25). Jensen at GTC: "$50B opportunity in 2025 alone, growing 50% annually." To CNBC in October: "a couple hundred billion by the end of the decade." That's