The Trump administration will maintain efforts to keep advanced artificial intelligence technology out of China’s hands, a top White House official said, brushing off calls from Nvidia Corp. Chief Executive Officer Jensen Huang to ease restrictions on chip exports to the world’s second largest economy.

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 CEO Jensen Huang said U.S. export controls have only encouraged Chinese chip competitors, while locking his company out of the market

Nvidia CEO Jensen Huang praised President Donald Trump’s move to modify U.S. curbs on the export of artificial intelligence chips to China, saying the Biden-era controls were a “failure.”

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.

The Nvidia CEO says that Chinese tech companies have benefited from the US crackdown.

CNBC's Kristina Partsinevelos joins 'Money Movers' to discuss Nvidia CEO Jensen Huang saying that U.S. chip export controls are a “failure.”

Huang called U.S. measures designed to limit the export of Nvidia's AI chips to China “a failure,” per multiple reports.