The Biden administration plans to impose stricter regulations on AI and other advanced chips from Nvidia (NVDA) and Advanced Micro Devices (AMD) before President-elect Donald Trump takes office on January 20. Bloomberg reported Wednesday night. AMD and NVIDIA stock prices were slightly lower in late trading.
The United States plans to limit unfettered access to advanced chips to a small number of close allies, including Japan, Europe and Australia, the report said. In most parts of the world, companies will face country- and company-specific restrictions. America’s adversaries such as China and Russia will be effectively deterred. New regulations for Southeast Asia and Persian Gulf countries are aimed at preventing AI chips from falling into the hands of the Chinese government and Moscow.
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Nasdaq maintains support after Fed minutes: SPOT, SMTC, DTM in focus
The Biden administration could impose new AI chip regulations as early as Friday, Bloomberg reports.
Nvidia stock fell 1% late Wednesday, signaling a move below its 50-day line. NVDA stock fell 2 cents to 140.11 in regular trading Wednesday, after plunging 6.2% on Tuesday.
AMD stock fell slightly in after-hours trading after falling 4.3% in regular trading. The stock is trading just above its 52-week low.
Broadcom (AVGO), another AI company, also fell slightly. Taiwan Semiconductor (TSM), which makes chips for Nvidia and Broadcom, also fell some. Taiwan Semi is scheduled to report December sales early Friday.
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