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.

CEO Jensen Huang’s net worth fell after a sharp drop in Nvidia’s (NASDAQ: NVDA) share price earlier this year. There had been worry that demand for Nvidia’s chips would falter because of restrictions on sales of the AI company’s chips in China.