Nvidia CEO Jensen Huang said U.S. export controls have only encouraged Chinese chip competitors, while locking his company out of the market

U.S. export controls on artificial intelligence chips to China were "a failure" as they have cost American companies billions of dollars in lost sales, Nvidia Chief Executive Jensen Huang said on Wednesday.

Nvidia Chief Executive Jensen Huang said U.S. export controls limiting the sale of advanced chips to China have been a failure, and commended President Trump for reversing a core part of the Biden administration’s policy.