The Biden administration intends to implement one more round of export restrictions on AI chip exports from companies like Nvidia (NVDA) and AMD (AMD), Bloomberg’s Mackenzie Hawkins and Jenny Leonard report, citing people familiar with the matter. The move is intended to keep the technologies out of countries like China and Russia, and regulations – creating three tiers of chip trade restrictions – could be announced as soon as Friday, the report states. At the top of the three tiers, a small number of U.S. allies would have unlimited access to U.S. chips, while a group of adversaries would be blocked from importing the chips, Bloomberg states.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVDA:
- Biden administration to curb exports of AI chips, Bloomberg reports
- Options Traders Turn Bearish on Nvidia (NVDA) Stock
- D-Wave Quantum CEO says Nvidia CEO ‘dead wrong’ with quantum comments
- Quantum ‘far ahead’ of traditional computing on simulations, D-Wave CEO says
- Exxon and Shell cautious on Q4, Flutter cuts guidance: Morning Buzz