Huang said that U.S. chip restrictions on China have failed to achieve their goals. Loopholes and existing semiconductor stockpiles in China have complicated the U.S.' aims. Chip experts say that the export curbs create more harm than good for the U.

Nvidia CEO Jensen Huang criticized U.S. export controls blocking the sale of its AI chips to China. Last month, the chipmaker noted a $5.5 billion write-down to its inventory, after the U.S. demanded companies get a license to sell their AI chips to China.

The now-scrapped rule would have limited the number of advanced artificial intelligence chips NVIDIA could sell to certain countries.