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.

Nvidia Chief Executive Jensen Huang said U.S. export controls limiting the sale of advanced chips to China have been a failure, and commended President Trump for reversing a core part of the Biden administration’s policy.

Jensen Huang, the chipmaker’s top executive, said the attempt to cut off the flow of advanced A.I. chips spurred Chinese companies to “accelerate their development.”