Nvidia Corp. chief Jensen Huang blasted the “failure” of US restrictions intended to contain China’s technological ascent, calling on the White House to lower barriers to AI chip sales before American firms cede that market to up-and-coming rivals such as Huawei Technologies Co.

Nvidia CEO Jensen Huang criticized U.S. export controls blocking the sale of its AI chips to China. Last month, the chipmaker noted a $5.5 billion write-down to its inventory, after the U.S. demanded companies get a license to sell their AI chips to China.

Nvidia (NVDA) stock is in full focus today after CEO Jensen Huang issued a strong statement on an important tech policy matter. Investors have harbored plenty of questions since the year began, as the new presidential administration has considered what its agenda will be on artificial intelligence (AI).