China just stopped returning NVIDIA Corp's (NASDAQ:NVDA) calls. After years of being the world's biggest AI-chip growth engine, Beijing has effectively iced out the U.S. semiconductor giant — and Nvidia CEO Jensen Huang isn't sugar-coating it.
"We went from 95% market share to 0% … we are 100% out of China," he admitted recently, adding that "in all our forecasts, we assume zero for China."
