Nvidia CEO Jensen Huang said losing China’s artificial intelligence (AI) market would be a huge loss, with the market poised for significant growth in the coming years, as the chip designer faces tightening export restrictions from Washington.
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China’s AI market is likely to grow to US$50 billion in the next two to three years, Huang said in an interview with US broadcaster CNBC on Tuesday. “It would be a tremendous loss not to be able to address it as an American company,” he said.
Selling to China would also help bring revenue back to the US, contributing to taxes and helping to “create lots of jobs”, he added. “The world’s dynamic today. You just got to stay agile.”
The remarks come as the US semiconductor giant grapples with the impact of US export controls, which were recently expanded to cover Nvidia’s China-tailored H20 AI chips. China’s Big Tech firms, including Tencent Holdings and ByteDance, currently use these chips to develop and train their AI models.
Nvidia began selling the H20 chips in early 2024, after its advanced A100, H100, A800 and H800 AI chips were all placed under US export controls meant to address national security concerns. As the US tightened these controls, Nvidia has offered modified versions of its chips meant to comply with the new restrictions.
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Huang has repeatedly stressed the significance of the China’s AI market, as the company seeks to maintain a presence in the country that contributed roughly 14 per cent of its revenue last financial year, accounting for US$17.1 billion.