Strict Domestic Substitution

its chance, of the story’s futures

−1.5%on the S&P 500, if it happens

Beijing enforces the H200 deployment ban as a practical industrial-policy tool, not just a negotiating signal. Large Chinese AI labs and cloud operators shift new inference and training clusters toward Huawei Ascend, Cambricon, and other domestic accelerator suppliers despite short-term efficiency losses.

What it moves

Technology−2.9%
Industrials−0.3%
Telecommunications−0.3%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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