By Kate Yuan

(JW Insights) Jun 30 -- Nvidia’s chief financial officer Colette Kress warned on June 28 that if the United States imposes new restrictions on the export of AI chips to China, it would result in a “permanent loss of opportunities” for US industry, according to multiple foreign media reports.

“Over the long-term, restrictions prohibiting the sale of our datacenter GPUs to China, if implemented, would result in a permanent loss of opportunities for US industry to compete and lead in one of the world’s largest markets and impact on our future business and financial results,” she said.

US officials plan to tighten export curbs announced in October to restrict the sale of some artificial-intelligence chips to China, according to reports by the Wall Street Journal and Financial Times.

Kress said that China accounts for between 20% and 25% of the company’s data center revenue, which totaled $4.28 billion in sales in the first quarter. The rules, as reported, could make it harder for companies like Nvidia (NVDA) to sell advanced chips to China.

“Given the strength of demand for our products worldwide, we do not anticipate that such additional restrictions, if adopted, would have an immediate material impact on our financial results,” Kress added.

In September last year, Nvidia had said U.S. officials asked the company to stop exporting two top computing chips for AI work to China. Nvidia then started offering a new advanced chip called the A800 in China to meet export control rules.

The new curbs being mulled by the U.S. would ban sale of even those chips designed specifically for Chinese customers, without a special U.S. export license, the Wall Street Journal has reported.