07:58 AM EDT, 08/13/2024 (MT Newswires) -- Huawei Technologies is close to launching its new AI chip, the Ascend 910C, which has been tested by Chinese internet companies and telecom operators in recent weeks, The Wall Street Journal reported Tuesday, citing people familiar with the matter.

The chip, said to rival Nvidia's ( NVDA ) H100, marks Huawei's efforts to overcome U.S. sanctions and develop domestic alternatives, the report said.

Initial discussions with companies like ByteDance, Baidu, and China Mobile suggest potential orders of over 70,000 chips, valued at around $2 billion, the people reportedly told the Journal.

Huawei plans to begin shipments by October, though delivery schedules may change, according to the change.

Huawei did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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