Chinese firms place $16 billion in order for new Nvidia chips, the Information reports

(Reuters) – Chinese companies including ByteDance, Alibaba Group and Tencent Holdings have placed at least $16 billion in orders for Nvidia’s H20 server chips in the first three months of the year, the Information reported on Wednesday, citing two people with direct knowledge of the transactions.

(Reporting by Priyanka.G in Bengaluru; Editing by Anil D’Silva)