As a result, Nvidia's total revenue soared, climbing in the double and triple digits quarter after quarter to reach record levels. And China was becoming a smaller and smaller part of that picture. A geographic breakdown shows Nvidia's China revenue shrank to just 16% of total sales in the fiscal 2024 year from 26% just two years earlier.

AI-diffusion” rules could limit the U.S. chip company’s sales even to friendly countries—and give more opportunity to foreign rivals.

The Trump administration has blocked Nvidia's chip sales to China, but Huawei is already stepping up with its own AI replacement