The Financial Times reported on Wednesday that five billion dollars’ worth of high-performance Nvidia (NVDA.O) chips are in high demand from China’s internet giants, who have placed orders.

According to the Financial Times, which cited numerous sources with knowledge of the situation, Baidu (9888.HK), ByteDance, the company that owns TikTok, Tencent (0700.HK), and Alibaba (9988.HK) had placed orders totaling $1 billion for approximately 100,000 A800 processors from the American chipmaker to be delivered this year.

According to the source, the Chinese groups had also ordered additional $4 billion worth of graphics processing units for delivery in 2024.

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