TAIPEI (Reuters) -U.S. export controls on artificial intelligence chips to China were "a failure", Nvidia ( NVDA ) Chief Executive Jensen Huang said on Wednesday.

The U.S. Commerce Department issued guidance last week alerting businesses to the risk of violating U.S. export controls by using Chinese chips.

Huang's comments came after China on Monday urged the United States to "immediately correct its wrongdoings" and stop "discriminatory" measures following the U.S. guidance warning companies not to use advanced computer chips from China, including Huawei's Ascend AI chips.

The U.S. action seriously undermined consensus reached at the high-level bilateral trade talks in Geneva, a statement from China's commerce ministry said, vowing resolute measures if the U.S. continues to "substantially" harm China's interests.

Huang, speaking at the annual Computex event in Taipei, said Nvidia's ( NVDA ) market share in China dropped to 50% from 95% at the start of former U.S. President Joe Biden's administration.