"This is a once in a lifetime opportunity - in the last 60 years, this is the biggest reinvention that you and I have seen,” Huang noted. “This is incredibly exciting technology - you want to engage it.

The now-scrapped rule would have limited the number of advanced artificial intelligence chips NVIDIA could sell to certain countries.

Nvidia CEO Jensen Huang reportedly called Washington’s export curbs on the sale of AI chips to China a “failure” that would drive Chinese rivals to speed up developing their own semiconductors.