Nvidia CEO Jensen Huang said the company will serve the Chinese market unswervingly, during a visit in Beijing on Thursday, three months after his previous visit. He highlighted China's strengths in the consumer market, booming industrial ecology, and software prowess, according to a report by CCTV News on Thursday.
Huang made the remarks when he was received by Ren Hongbin, chairman of the China Council for the Promotion of International Trade, in response to Ren's question regarding the U.S.' recently announced indefinite export control on Nvidia's H20 chips to China.
The U.S. government's strengthening of chip export controls has already had a significant impact on Nvidia's business, Huang said.
As a company that has been deeply cultivating the Chinese market for 30 years, Nvidia has grown together with the Chinese market and achieved mutual success. China is not only one of the world's largest consumer markets, its booming industrial ecology and leading software strength have also become important driving forces for the company to continue innovating, Huang said.
The company's success in the Chinese market has driven the company to continuously increase investment in research and development. Moreover, in-depth cooperation with Chinese companies has enabled it to evolve into an even more competitive international enterprise. Therefore, the company will continue to spare no effort in optimizing the product system to meet regulatory requirements and serve the Chinese market unswervingly, Huang said, according to the report.
"The China market is very important to us, and it's important to our growth," Huang told reporters, according to a video posted by China News Service.
Huang said the world is now embarking on a fierce artificial intelligence (AI) race. As the most transformative core technology of our time, AI has broad prospects for promoting the development of various industries. Countries around the world are accelerating the application of this technology, as well as research and development, innovation, and promotion, which is bound to have a far-reaching impact on the pattern of the global market, including China.
The Financial Times reported on Thursday Huang met Nvidia clients in China, including the founder of generative artificial intelligence start-up DeepSeek, to discuss new chip designs for Chinese customers, citing two people familiar with his travel schedule.
Nvidia said Tuesday in a filing that the U.S. government informed the company that it requires a license for exporting H20 integrated circuits and any other circuits achieving the H20's memory bandwidth, interconnect bandwidth, or combination thereof to China and other countries on April 9. On Monday, the U.S. government informed the company that the license requirement will be in effect for the indefinite future.
The filing said that the first quarter results are expected to include up to approximately $5.5 billion of charges associated with H20 products for inventory, purchase commitments, and related reserves.
The U.S. Commerce Department said on Tuesday it was issuing new export licensing requirements for Nvidia's H20, AMD's MI308 artificial intelligence chips, as well as their equivalents, to China, Reuters reported.
The H20 is an AI chip for China that was designed to comply with previously implemented U.S. export restrictions. It generated an estimated $12 billion to $15 billion in revenue in 2024, per the CNBC report.
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