By Ian King and Ed Ludlow, Bloomberg

Nvidia Corp . Chief Executive Officer Jensen Huang said that Chinese AI rivals are filling the void left by the departure of US companies from that market, and their technology is becoming more powerful.

“The Chinese competitors have evolved,” he said Wednesday in an interview with Bloomberg Television. Huawei Technologies Co., a Chinese tech company blacklisted by the US government, has become “quite formidable,” he said.

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US restrictions on exports to China have effectively locked Nvidia out of the country, the largest market for chips, and as a result the company expects to lose out on $8 billion in sales this quarter alone. During a quarterly earnings call Wednesday, Huang spent much of the time arg

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