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Jensen Huang just said the quiet part out loud.
Nvidia has "largely conceded" China's AI chip market to Huawei.
China was once 20% of Nvidia's data center revenue.
Now ByteDance, Baidu, and Alibaba are all running Huawei chips at scale.
US export controls didn't stop China. They just accelerated their own chip ecosystem.
Nvidia still posted 85% revenue growth this quarter.
But the AI world is splitting in two.
One stack runs on Nvidia. The other runs on Huawei.
The tech cold war just got a lot more real.