The new rules limit the sale of advanced U.S. AI technology to all nations except close U.S. allies, in an attempt to constrain China.

The Biden-Harris administration announced on Monday that it would restrict exports of chips used for artificial intelligence (AI) and technology,

The Biden administration today announced new export restrictions focused on artificial intelligence chips and proprietary neural networks.

Nvidia shares were up 2.1% at $136 in premarket trading. The stock fell 2% on Monday. The Biden administration on Monday outlined AI chip restrictions that would apply caps on U.S

Nvidia faces a significant revenue threat due to the latest U.S. export restrictions on artificial intelligence chips, designed to limit the global distribution of these coveted processors, analysts and investors said.

The Biden administration’s latest bid to curb China’s access to the most advanced AI models and AI chips could have a major impact on the AI boom and its enablers, most prominently chip giant Nvidia.