Nvidia will stop including China in its forecasts amid US chip export controls, CEO says
CNN
Chipmaker Nvidia will exclude the Chinese market from its revenue and profit forecasts following the imposition of tough US restrictions on chip sales to China, its CEO said Thursday.
Chipmaker Nvidia will exclude the Chinese market from its revenue and profit forecasts following the imposition of tough US restrictions on chip sales to China, its CEO said Thursday. Asked whether the US will lift export controls after trade talks with China in London this week, Nvidia CEO Jensen Huang told CNN’s Anna Stewart in Paris: “I’m not counting on it but, if it happens, then it will be a great bonus. I’ve told all of our investors and shareholders that, going forward, our forecasts will not include the China market.” In recent years, Washington has stepped up efforts to restrict China’s access to American chip-related technologies, aiming to prevent Beijing from using US innovations to bolster its military and artificial intelligence capabilities. Huang’s comments underscore the impact of Washington’s chip curbs on Nvidia, a company once best known for its video game graphics processors, that has profited tremendously from growing demand for AI chips and infrastructure. The company blew past Wall Street’s revenue expectations in its first quarter of 2025, posting a 69% increase from the same period last year. But Nvidia missed out on an additional $2.5 billion in revenue because export restrictions prevented it from shipping its H20 AI chips to China. The company developed that chip specifically to accommodate US export controls but was told in April that it would need a special license to do so. Nvidia took a smaller hit than expected from the excess inventory, however: a $4.5 billion charge compared to the $5.5 billion it had expected. Kevin Hassett, director of the US National Economic Council, told CNBC Monday that the Trump administration might be open to loosening restrictions on exports of some microchips that China views as critical to its manufacturing sector. But the United States will maintain curbs on “very, very high-end Nvidia” chips that are capable of powering AI systems, he added.
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