Nvidia issues solid revenue forecast even as it warns of risks from US-China conflict

Even as Nvidia reported another blockbuster quarter of 69 per cent sales growth on May 28, the world's biggest maker of artificial intelligence (AI) chips warned of more risks to its business emerging in the technology conflict between the United States and China.

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Tucked into its quarterly filing, Nvidia for the first time said that restrictions on the use of opensource AI models from China such as DeepSeek and Qwen could hurt its business, as could US rules barring connected vehicle technology from China, where Nvidia's longstruggling car chip business has finally flourished.

While Nvidia chief executive Jensen Huang on a conference call with analysts praised US President Donald Trump's decision to rescind an export rule put in place by former president Joe Biden that would have regulated the flow of Nvidia's chips around the world, the company's filing noted that no new rule had been issued in its place and that a "replacement rule may impose new restrictions on our products or operations".

Mr Huang also criticised new export curbs imposed by the Trump administration in April. The curbs stop the company from selling its H20 chip made for the Chinese market.