According to a Financial Times Report over $1 Billion worth of Nvidia’s most powerful chip were illegally smuggled into China between April and June 2025. These chips were models: B200; H100 and H200 bassed from export to China under Us trade restrictions. The most advanced B200 and H100 models remain under full export control and are at the heart of the black-market trade.
The Financial Times, said that Nvidia chips were routed through Southeast Asia sold through grey-market networks in Chinese provinces including Guangdong, Zhejiang, and Anhui. Some distributors, such as Shanghai-based “Gate of the Era”, reportedly handled nearly $400 million worth of B200 systems, selling pre-assembled AI server racks for as much as $500,000 each, a significant markup over US retail prices.
Financial Times lists the going rate for one rack with eight B200 AI GPUs to be around CNY 3 to 3.5 million, or about US$420,000 to US$490,000 at the current exchange rate. This is about a 50% premium on prices in the U.S., meaning sellers can make more than $100,000 for each sale. One company, Gate of the Era, is estimated to have sold several hundred of these racks, with its gross sales almost reaching $400 million.
Jeffrey Newman is a whistleblower lawyer. He can be reached at Jeff@JeffNewmanLaw.com or at 978-880-4758
