The California-based AI chip juggernaut is caught up in the geopolitical tensions between the United States and China, and the CEO's comments dashed expectations that the two superpowers could come to some sort of arrangement on the issue.

Huang has lobbied hard, so far without success, in both Washington and Beijing to break the logjam, arguing that allowing the chips to be sold in China would be good for both countries.

"There are no discussions underway. Currently, we have no plans to ship anything to China," Huang told Taiwanese media, according to Bloomberg, before a visit to TSMC, the company that manufactures Nvidia's hardware.

These statements did not sit well with investors, with Nvidia's stock losing as much as four percent on Friday.

Since its record high of more than $5 trillion on October 29, the company's market value has melted away by more than $600 billion.

China, the world's largest consumer of semiconductors, represents a huge market for Nvidia.

But earlier this week, the White House said it was still unwilling to allow Nvidia to sell its advanced Blackwell chip model in China.

Beijing is meanwhile banning large Chinese companies from buying another less performant model, even though it was designed specifically by Nvidia for the country.

Instead, China has ramped up its chip industry to beat the restrictions imposed by Washington.

The United States cites national security concerns, such as the risk of giving China a military advantage, for the block, with the geopolitical bind showing no sign of easing.

Even if certain members of the Trump administration favor a more nuanced approach on selling AI chips to China, there is deep opposition in Washington from China hawks who favor tougher bans on AI technology.

tmc/arp/des

NVIDIA