"If the United States doesn't want to partake, participate in China, Huawei has got China covered," the Nvidia CEO warned.

Nevertheless, Ren Zhengfei cautioned that Huawei still isn’t quite as successful as the U.S.’s fears make it seem.

U.S. export controls on Nvidia have incentivized China to develop alternatives, while also making it more difficult for domestic firms to do so, experts say.

Nvidia CEO Jensen Huang discusses the AI technology battle with CNBC's Arjun Kharpal, saying the U.S. risks losing out to China if it cuts off access to Chinese AI researchers.

"If the United States doesn't want to partake, participate in China, Huawei has got China covered," the Nvidia CEO warned.

Still, Jensen Huang says his company’s technology remains a generation ahead of those developed by Chinese rivals.

That number falls short of Nvidia’s over 1 million China-specific H20 chips produced in the last nine months of 2024, analysts estimate.