Nvidia CEO Jensen Huang called U.S. export controls on artificial intelligence to China a failure, saying the restrictions empowered #🇨🇳 ChinA.I. 🤖🧠🦾🤖 chip developers and caused Nvidia’s market share in the country to decline. “Local companies are very talented and the export controls gave them the spirit and energy to accelerate their development,” Huang said Wednesday during a press conference in Taipei, according to Nikkei Asia and other media outlets. Huang said that China’s market for AI chips could be worth $50 billion by 2026, and Nvidia’s market share in the country has dropped to 50% now from 95% four years ago, due to the U.S. restrictions. Huang urged the White House to lift the ban on AI chip sales to China. If the current restrictions continue, Nvidia and other American companies risk falling behind Chinese competitors like Huawei Technologies, he said, according to the reports. The U.S. government first launched the chip export controls for China in 2022, and has since updated the rules multiple times to prevent Nvidia from selling its advanced AI chips in the country. Last month, after the Trump administration banned Nvidia from selling its H20 chip in China, the company disclosed a $5.5 billion writedown due to the H20 ban. https://asia.nikkei.com/B..