CEO Jensen Huang said the U.S. export controls on Ai chips to China were "a failure" as they have cost U.S. companies billions of dollars in lost sales, Reuters reported. In January, the Biden-Harris Administration unveiled a rule on 'Artificial Intelligence Diffusion,

U.S. efforts to curtail China’s access to advanced artificial intelligence chips have backfired, Nvidia (NVDA) CEO Jensen Huang said Wednesday, adding that the Biden administration’s export restrictions didn’t slow China’s AI ambitions — they accelerated them.