Chinese companies are ramping up orders for Nvidia's H20 artificial intelligence chip due to booming demand for DeepSeek's low-cost AI models, six people familiar with the matter said.

Chinese companies are increasingly placing more orders for Nvidia's (NASDAQ:NVDA) H20 artificial intelligence chip amid rising demand for DeepSeek's (DEEPSEEK) low-cost AI models, Reuters reported on Tuesday citing people familiar with the matter.

Tencent, Alibaba and ByteDance are said to have significantly increased orders of the H20 since DeepSeek gained global attention.