Nvidia had specifically designed the H20 AI chip, based on its Hopper architecture, to respect the U.S. government's guidelines and had earned approval to export it. But, back in April, it received word from the government that it couldn't export the H20 without a license. The U.S. hasn't yet issued such licenses to chip companies.

Nvidia CEO Jensen Huang warns that AI is already reshaping the job market and every job will be affected immediately. Instead of fearing AI, he urges workers to embrace it, saying those who use AI will keep their jobs.

Trump-administration policy that restricts the sale of Nvidia products to China "weakens America's position," CEO Jensen Huang said Wednesday. Huang's comments came during a conference call after chip giant Nvidia (NVDA) reported its latest financial results—which included a multibillion dollar hit to revenue and a ding to earnings associated with