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

Core Viewpoint - Nvidia is facing significant revenue losses due to restrictions on sales to China, which CEO Jensen Huang estimates to be in the billions of dollars [2][4]. Financial Performance - Despite the challenges in the Chinese market, Nvidia reported a 69% year-over-year revenue growth, reaching $44 billion in the fiscal first quarter, exceeding analysts' expectations [2]. - Nvidia's stock rose approximately 4% in extended trading, potentially reaching its highest level since January [2]. Market Impact - Nvidia's market capitalization has increased by nearly 240% in 2023 and over 170% in the previous year, indicating a strong recovery after a difficult start to 2025 [3]. Regulatory Environment - The U.S. government has imposed restrictions on Nvidia's sales to China, requiring an export license for the H20 processor, which was previously approved, leading to an immediate halt in sales [4]. - The H20 processor was designed to comply with U.S. export controls following restrictions on AI chip exports implemented in 2022 [5].