Huawei's AI chip business is surging, with the company projecting around $12 billion in revenue this year. The growth is fueled by large orders from Chinese tech firms for its Ascend 950PR processors, as Nvidia's market share in China contracts significantly.
Huawei has captured approximately 20% of the Chinese market, reflecting Beijing's push for self-sufficiency in AI semiconductors. US export controls on advanced chips have accelerated this shift. Despite the competitive pressure, prediction markets still see Nvidia as likely to remain the world's largest company by market cap through the end of April.