As the top chip company, Nvidia's chips are in high demand from the largest companies, like Amazon and Microsoft, that are building out huge AI businesses. They themselves are serving other giants with AI tools and services in partnership with Nvidia, offering access to the chipmaker's powerful technology.

Financial Times is reporting that $1 billion worth of NVIDIA AI chips were smuggled into China in the three months after the Trump administration tightened semiconductor export controls. Citing sales contracts,

Nvidia's advanced artificial intelligence chips worth at least $1 billion were smuggled to China in the three months after Washington tightened chip export controls, the Financial Times reported on Thursday.