Nvidia CEO Jensen Huang calls U.S. AI chip export controls to China a "failure," costing his company billions and inadvertently boosting Chinese competitors like Huawei. The Biden administration’s approach is criticized as flawed, with Trump poised to revise the rules.

• Lost Nvidia market share in China dropped from 95% to 50%.
• China is investing in a self, reliant AI supply chain.
• The total Chinese AI market is projected at $50 billion next year.