Nvidia CEO Jensen Huang hammers chip controls that ‘effectively closed’ China market

During a conference in Taipei on May 21, 2025, Jensen Huang, the co-founder and CEO of Nvidia Corp., discussed the company’s latest financial results. Huang expressed disappointment over losing revenue due to the inability to sell products to China, which has resulted in a multibillion-dollar inventory writeoff. Despite this setback, Nvidia still reported strong revenue growth of 69% year-over-year to $44 billion in the first fiscal quarter, exceeding analysts’ expectations. The company’s stock saw a 4% rise in extended trading, reaching its highest level since January.

Nvidia faced challenges with the U.S. government’s export controls, particularly regarding the H20 processor for China, which required an export license. This restriction led to a significant impact on Nvidia’s sales and inventory, with projected sales being $2.5 billion higher if H20 chips could have been sold for the entire quarter. Huang emphasized the negative consequences of these export controls not only for Nvidia but also for the U.S. as a whole.

Despite the difficulties faced by Nvidia, Huang refrained from criticizing President Donald Trump, acknowledging his efforts in certain areas. However, Huang highlighted the lack of a clear solution to the challenges posed by the China situation, stating that there is no alternative product in development at present. While expressing trust in the President’s vision, Huang emphasized the stringent nature of the current U.S. restrictions.

In conclusion, Huang acknowledged the complexities surrounding the China issue, expressing optimism about the future while also acknowledging the challenges posed by current export controls.