The now-scrapped rule would have limited the number of advanced artificial intelligence chips NVIDIA could sell to certain countries.

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.

U.S. export controls on artificial intelligence chips to China were "a failure" as they have cost American companies billions of dollars in lost sales, Nvidia Chief Executive Jensen Huang said on Wednesday.