NVIDIA CEO says China’s AI chip market could reach $50 billion, vital for US companies

NVIDIA CEO Jensen Huang told CNBC on Tuesday that China’s AI chip market could reach $50 billion in the coming years, making it crucial for US companies to gain access. “It would be a tremendous loss not to be able to address it as an American company,” Huang said in an interview on the US network. “It’s going to bring back revenues. It’s going to bring back taxes. It’s going to create lots of jobs here in the United States.” Huang is lobbying the US government to oppose tighter restrictions that could block NVIDIA and its peers from the Chinese market, the world’s largest for semiconductors. Huang argues such measures would ultimately undermine US national security and contradict the government’s original intent. In April, due to stricter regulations, the company took a $5.5 billion writedown on its H20 chip, a lower-powered processor for China that now needs special approval before it can be shipped. [Bloomberg]