<ul><li>Nvidia CEO Jensen Huang stated that the US and China are closely competing in the race for AI chip dominance, with China right behind.</li><li>Huang emphasized the need for policies allowing greater US chip exports and warned of the competition posed by Chinese tech giant Huawei in the AI chip market.</li><li>The Trump administration plans to restrict Nvidia's chip sales to China, potentially impacting Nvidia's revenue for its H20 chips.</li><li>Despite the lack of formal announcements, discussions are ongoing to use chip sales as leverage in trade negotiations under Biden's 'Framework for Artificial Intelligence Diffusion' rule.</li></ul>

Jensen Huang said the US and China are 'very, very close' in the chip race

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