Nvidia CEO Jensen Huang said the company has “largely conceded” China’s artificial intelligence chip market to Huawei, as U.S. export restrictions continue to reshape the global AI semiconductor landscape. Huang’s comments came as Nvidia reported another blockbuster quarter, with revenue surging 85% to $81.62 billion from $44.06 billion a year earlier. The company also unveiled an $80 billion share buyback program and raised its dividend. However, China remained a key flashpoint. “The demand in China is quite large,” Huang told CNBC’s Sara Eisen. “Huawei is very, very strong. They had a record year, they’ll likely, very likely, have an extraordinary year coming up, and their local ecosystem of chip companies are doing quite well, because we’ve evacuated that market.” “We’ve really largely conceded that market to them,” he added.

Full report : Nvidia’s Huang said the company has “largely conceded” China’s AI chip market to Huawei.