According to The Kobeissi Letter, China’s Huawei has developed a new AI chip aiming to compete directly with Nvidia, as reported by the Wall Street Journal. This development follows recent U.S. restrictions on Nvidia's H20 chip sales to China, potentially shifting demand for high-performance computing chips within the Chinese market. Crypto traders should monitor related AI and chipmaker stocks, such as Nvidia ($NVDA) and local Chinese tech firms, as this move may impact GPU supply dynamics, blockchain mining efficiency, and the broader AI crypto ecosystem. Source: The Kobeissi Letter (@KobeissiLetter), April 27, 2025.