Nvidia’s $25 billion bond sale draws scrutiny as Senate deadline looms on China export controls

Nvidia completed a $25 billion long-term bond offering on June 15 and must submit a written response by June 18 to Senator Elizabeth Warren on how it ensures compliance with U.S. chip export controls to China. The inquiry cites multiple U.S. Department of Justice cases alleging third parties routed H100 and H200 chips and servers through Southeast Asia for resale into China, and it questions CEO Jensen Huang’s public remarks that Nvidia’s China market share has “dropped to zero.” Nvidia’s filings already assume zero Data Center revenue from China, but the heightened scrutiny makes the geopolitical risk in its long-term growth outlook more visible.