Nvidia, one of the leading manufacturers of artificial intelligence (AI) chips, experienced a significant decline in its stock prices by over 3%. The drop can be attributed to reports suggesting that the Biden administration is considering imposing new restrictions on the export of AI chips to China. The Department of Commerce may take action as early as next month to halt shipments of Nvidia and other manufacturers’ chips to customers in China and other countries unless prior licenses are obtained. This move by the administration is part of the final regulations that aim to codify and expand export control measures
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