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Nvidia Concedes China AI Chip Market to Huawei as Export Curbs Bite

Nvidia has largely ceded China's artificial intelligence chip market to Huawei, CEO Jensen Huang said, as U.S. export restrictions reshape the global semiconductor landscape. Huang's comments accompanied another record quarter, with revenue surging 85% to $81 billion. The company announced an $80 billion share buyback program and raised its dividend. China's demand for AI chips remains substantial, Huang noted. Huawei is well-positioned to capture the market, with its local ecosystem of chip companies performing well. The Trump administration's April requirement that Nvidia obtain licenses for advanced chip exports to China effectively shut the company out of a market that once represented at least one-fifth of its data center revenue. Huang told investors to expect nothing regarding near-term approvals for selling advanced chips into China, signaling the restrictions are unlikely to ease soon.