The CEO of Nvidia, Jensen Huang, has expressed his concern that the ongoing chip wars between China and the US could cause significant damage to US tech companies.

Huang stated that China is a crucial supplier of components and sales market for US technology products, accounting for almost one-third of all such products. He also noted that Chinese companies have already started producing their own chips to compete with Nvidia’s market-leading processors for gaming, graphics, and artificial intelligence (AI). Huang’s comments come after Nvidia was banned from selling its most advanced chips to Chinese customers in August 2022 due to export controls on technologies used for AI. As a result, Nvidia has had to reconfigure some semiconductors, reducing their performance.