Nvidia CEO Jensen Huang confirmed that the company's market share for AI accelerators in China has fallen to zero, directly attributing the collapse to US export controls. The restrictions, first imposed in 2022 under the Biden administration and tightened since, prevent the chipmaker from exporting even compliant hardware like the H200.
Huang's remarks underscore the escalating US-China tech rivalry and the accelerating push for domestic Chinese alternatives, notably by competitors like Huawei. The severe market share erosion raises strategic challenges for Nvidia and dampens investor sentiment. On Polymarket, odds of Nvidia becoming the world's largest company by market cap in 2026 have declined, currently sitting at 70% for June 30. Analysts emphasize that further regulatory shifts and Nvidia's upcoming earnings calls will be critical to watch.