Nvidia CEO Jensen Huang said U.S. export controls have effectively shut the $50 billion China market to American companies. As a result, Nvidia was forced to scrap $8 billion in H20 chip orders and write off $4.5 billion in inventory. Huang criticized the assumptions behind U.S. policy, saying China already has AI capabilities and will continue advancing with or without Nvidia chips. He stopped short of blaming Trump directly, instead thanking him for halting a proposed global AI chip quota and for deals boosting U.S. chip manufacturing. Huang said Nvidia has no replacement chip for China and warned that the latest restrictions are “quite stringent.”
