(Reuters) - Nvidia CEO Jensen Huang will hold a media briefing in Beijing on July 16, an official from the company said on Sunday, marking his second visit to the country after a trip in April where he stressed the importance of the Chinese market.
Since 2022, the U.S. government has imposed restrictions on the export of Nvidia’s most advanced chips to China, citing concerns over potential military applications.
The U.S. also imposed a ban earlier this year on sales of Nvidia's H20 artificial intelligence chips to the country - which had been Nvidia's most powerful AI chip cleared for Chinese sales.
Nvidia has faced increased competition from Chinese tech giant Huawei and other makers of graphics processing units - the chips used to train artificial intelligence. But Chinese companies, including its big tech firms, still crave Nvidia chips due to the company's computing platform known as CUDA.
China generated $17 billion in revenue for Nvidia in the fiscal year ending January 26, accounting for 13% of the company’s total sales, based on its latest annual report. Huang has consistently highlighted China as a critical market for Nvidia's growth.
Nvidia's market value topped $4 trillion for the first time last week, solidifying the chipmaker's position as Wall Street's central player in a race to dominate AI technology.