The boss of Nvidia Corp (NASDAQ:NVDA, ETR:NVD) reckons United States export controls on artificial intelligence chips have backfired, encouraging Chinese companies to speed up development.
Speaking at the Computex technology forum in Taipei, Jensen Huang said the restrictions “gave them the spirit, the energy and the government support to accelerate their development”. He described the measures as “a failure”.
Nvidia has been hit hard, losing billions in potential sales. Its market share in China has fallen from 95% to 50% since the start of the Biden administration.
Huang's comments follow his recent meetings in Beijing, where he discussed new chip designs that avoid triggering US export bans.
America has sought to limit the use of advanced semiconductors in China, citing national security.
But China has criticised Washington’s stance, accusing it of protectionism and threatening action against organisations that help enforce such rules. Beijing said the measures damage global supply chain stability.