It also cited new rules that block connected vehicle technology from China, just as its automotive chip business is beginning to grow in that market.
Nvidia also said it’s uncertain about what new rules might come next.
This comes as the recently revoked export policy, originally put in place by former President Joe Biden, would have controlled the global flow of Nvidia’s chips. That rule was cancelled by President Donald Trump, a move praised by Nvidia CEO Jensen Huang.
Additionally, the company warned that a ‘replacement rule may impose new restrictions on our products or operations.’
He said: ‘The question is not whether China will have AI – it already does. The question is whether one of the world’s largest AI markets will run on American platforms.
‘AI export controls should strengthen US platforms, not drive half of the world’s AI talent to rivals.’
‘US platforms must remain the preferred platform for open-source AI. That means supporting collaboration with top developers globally, including in China. America wins when models like DeepSeek and Qwen run best on American infrastructure.’
He added: “President Trump wants US tech to lead. The deals he announced are wins for America, creating jobs, advancing infrastructure, generating tax revenue and reducing the US trade deficit.’
At the same time, Huang criticised new export limits issued in April by the Trump administration that blocked Nvidia from selling its China-specific H20 chip.
‘The curbs stop the company from selling its H20 chip made for the Chinese market,’ Huang said, branding the chip ‘a springboard to global success.’
The ban already cost Nvidia $2.5 billion in sales last quarter. However, the company expects an additional $8 billion hit in the current quarter. Before the rules took effect, H20 sales in China brought in $4.6 billion in revenue, the company revealed.
This comes as the technology giant reported $44.1 billion in revenues, up from 12% from the previous quarter and 69% from last year.
Meanwhile, data centre revenues reached $39.1 billion, a 10% rise from last quarter and a 73% increase year-on-year.
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