While Nvidia could get shut out of China, it has a big opportunity to grow in other international markets over time.

The Nvidia CEO said his company would "stay agile and keep moving on" and do "whatever's in the best interest of our country."

Nvidia Corp. Chief Executive Officer Jensen Huang said that the market for AI chips in China could reach $50 billion in the next couple of years, making it crucial for US companies to have access to the country.