MERGE INTO YourTable
USING ( VALUES ( 'id1', 'valueA', NULL ),
( 'id2', NULL, 'valueB' ) )
AS source ( id, fieldA , fieldB )
ON YourTable.id = source.id
WHEN MATCHED THEN
UPDATE
SET fieldA = COALESCE(source.fieldA, YourTable.fieldA),
fieldB = COALESCE(source.fieldB, YourTable.fieldB);