Nvidia reported fiscal Q2 2027 revenue of $96.2 billion, up 106% year over year, as demand from U.S. hyperscalers more than offset the collapse of its China business. China, including Hong Kong, contributed $7.88 billion, or about 8% of total revenue, while Data Center revenue climbed 117% to $89 billion. Three U.S. customers generated 54% of total sales, and shipments of H200 AI chips to Chinese companies accounted for less than 1% of Data Center revenue. Nvidia CEO Jensen Huang has said the company’s share of China’s advanced AI-chip market fell from approximately 95% to essentially zero. U.S. export controls and competition from Huawei have restricted Nvidia’s access to China, while the company’s fiscal Q3 2027 revenue guidance of $108 billion excludes Data Center compute sales in China. The shift has reduced Nvidia’s dependence on China but increased its concentration among a small number of U.S. hyperscalers.