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  "documentTitle": "2025 Air Street Capital The State of AI Report 2025",
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  "notes": "Includes a visual metaphor of a scale representing the trade-off between GPU layer market share and model layer market share.",
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      "text": "Due to strategic interdependencies, attempts to deepen China's dependence on the American AI accelerator ecosystem carries tradeoffs at the model layer.",
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      "text": "BIS originally sent letters to NVIDIA & AMD announcing the requirement of licenses for the sale of H20 & MI308 chips to China, effectively halting sales. Months later, the Trump administration walked back these controls.",
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      "text": "Due to strategic interdependencies, attempts to deepen China's dependence on the American AI accelerator ecosystem carries tradeoffs at the model layer. In this scenario, Chinese labs can continue to tap into high bandwidth compute, improving their ability to both serve customers and develop RL-heavy reasoning models. Although smuggling appears inevitable, export decisions represent a swinging pendulum between these two layers of the stack.",
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      "text": "NVIDIA welcomed this shift, announcing its plan to fulfill existing orders. However, Chinese CSP's have canceled these purchases and the production of H20 line recently halted. Instead, NVIDIA await directives from both countries in its hopes to launch a B30A line, based on the Blackwell architecture.",
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      "text": "The CCP immediately denied claims that this concession was linked to ongoing trade negotiations, sparking speculation the move was instead intended to contain Chinese chipmakers such as Huawei. Others view this pivot as an attempt to ensure NVIDIA plays ball amid location verification initiatives like the Secure Chip Act.",
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