NVIDIA GPUs Hit $1 Million Each on China's Black Market as Export Controls Bite

US export restrictions have pushed underground NVIDIA GPU prices in China to approximately $1 million per unit, revealing the extreme demand for AI compute that official channels cannot satisfy.

NVIDIA GPUs are reportedly trading for approximately 160 million yen (roughly $1 million USD) per unit on China's underground market, according to @KojiHirai6. The figure, while difficult to independently verify, reflects the severe supply constraint created by US export controls on advanced AI chips to China.

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