Nvidia’s Jensen Huang claims Chinese AI firms are quickly capitalizing on the void left by US companies exiting the market. He notes that Chinese tech has significantly advanced, pointing to Huawei Technologies Co.’s successful rise despite U.S. restrictions. recent export controls imposed by the U.S. government have had a significant financial impact on Nvidia, leading to a projected loss of $8 billion this quarter. Huang calls for easing these restrictions, arguing they should bolster American AI platforms instead of redirecting talent towards rivals. He cites the example of major clients like Tencent Holdings Ltd., forced to switch from US-based suppliers to Huawei products due to US limitations.