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

"This is a once in a lifetime opportunity - in the last 60 years, this is the biggest reinvention that you and I have seen,” Huang noted. “This is incredibly exciting technology - you want to engage it.

Nvidia chief Jensen Huang has condemned US export controls designed to limit China’s access to artificial intelligence chips as “a failure” that spurred Chinese rivals to accelerate development of their own products.