Nvidia chief executive Jensen Huang has warned that China will beat the US in the artificial intelligence race, thanks to lower energy costs and looser regulations. In the starkest comments yet from the head of the world’s most valuable company, Huang told the FT: “China is going to win the AI race.”

The White House has informed other federal agencies that it will not permit Nvidia to sell its latest scaled-down AI chips to China, The Information reported on Thursday, citing three people familiar with the matter.