Superpower rivalry over semiconductors heats up despite Washington’s attempts to block Beijing.

Huawei prepares to test its Ascend 910D AI chip as new US tariffs and restrictions reshape the global semiconductor trade.

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.