At least $1 billion worth of Nvidia’s advanced artificial intelligence processors were shipped to China in the three months after Donald Trump tightened chip export controls, exposing the limits of Washington’s efforts to restrain Beijing’s high-tech ambitions.

With help from a longtime Silicon Valley investor turned White House insider, Mr. Huang got the administration to reverse course on restrictions.

U.S. semiconductor giant Nvidia ($NVDA) stock edged up today despite reports that its chips were smuggled into China to beat President Trump’s