07:21 AM EDT, 05/21/2025 (MT Newswires) -- Nvidia ( NVDA ) CEO Jensen Huang said Wednesday that US export restrictions on artificial intelligence chips to China have been a "failure," multiple media outlets reported.

"All in all, the export controls were a failure. The facts would suggest it," Huang was quoted as saying.

Huang said the controls have prompted Chinese firms to shift purchases to domestic chipmakers, including Huawei. He added that the restrictions also accelerated China's efforts to build a domestic semiconductor supply chain, reducing reliance on foreign technology.

Speaking at the at the Computex event in Taipei, Huang said Nvidia's ( NVDA ) market share in China has dropped to 50% from 95% at the beginning of President Joe Biden's administration.