Nvidia Corp. chief Jensen Huang blasted the “failure” of US restrictions intended to help contain China’s technological ascent, calling on the White House to lower barriers to AI chip sales before American firms cede that market to up-and-coming rivals such as Huawei Technologies Co.

Nvidia chief Jensen Huang has condemned US export controls designed to limit China’s access to artificial intelligence chips as “a failure” that spurred Chinese rivals to accelerate development of their own products.

U.S. export controls on artificial intelligence chips to China were "a failure", Nvidia Chief Executive Jensen Huang said on Wednesday.