Huawei reports a surge in AI chip sales as China pushes for semiconductor self-reliance amid US export controls. The restrictions have hit Nvidia, limiting sales of its high-end chips in the country.
Analysts say Huawei is gaining market share and revenue, while Nvidia's dominance in China erodes. Despite this, prediction markets still give Nvidia a 99.9% chance of being the world's largest company by market cap at the end of April. The market impact of Huawei's rise is seen as moderate, with Nvidia's global position expected to hold. Watch for further US-China trade policy shifts, as well as AI infrastructure spending announcements from major tech firms.