NVIDIA CEO Jensen Huang has called the US government's export restrictions on advanced AI chips to China a failure. Speaking at the Computex tech forum in Taiwan, Huang said that these measures have unintentionally accelerated China's technological growth. He stressed that Chinese firms are extremely talented and determined, and these restrictions have given them the motivation and government support to advance quickly. Huang revealed NVIDIA has lost billions of dollars due to US export restrictions. The company's share in China's AI chip market has plummeted from nearly 95% at the start of ex-President Joe Biden's administration, to 50% now. This decline is linked to the US government's strict controls on advanced AI chips exports to China, to slow down China's military progress and maintain US dominance in the AI sector. In a surprising move, Huang visited Beijing last month, where he met with key figures, including the head of the China Council for the Promotion of International Trade and DeepSeek founder Liang Wenfeng. The visit came soon after new US regulations prohibited shipments of NVIDIA's H20 GPUs to China. The US government imposed these restrictions over concerns that NVIDIA's products might be used in or diverted to Chinese supercomputers. During his China visit, Huang's meeting with Liang was mainly centered on discussing innovative chip designs for NVIDIA. These new designs are intended to bypass the recent US export restrictions. This comes as the Trump administration has modified some existing restrictions on chip exports to China after several countries complained about being denied access to essential technology for AI development.