Silicon Valley based Nvidia Corp's share of China's artificial intelligence chip market has plunged from 95 per cent to zero due to US export restrictions, CEO Jensen Huang said at a Citadel Securities event, reports Caixin.

Huang described the policy as a "mistake" and warned it could backfire on US interests. "At the moment, we're 100 per cent out of China," he said. He added that the company would continue to advocate for a change in policy.

The Nvidia founder argued that restricting China's access to foundational US technologies used in AI research undermines American strategic goals. He noted that China is home to about half of the world's AI researchers.

"It's a mistake not to have those researchers build AI on American technology," Mr Huang said. He cautioned that actions harming China could also damage the US, "and even worse."