US President Joe Biden’s anticipated chip export controls are facing criticism from Nvidia (NVDA) CEO Jensen Huang and Vice President of Government Affairs Ned Finkle. The new rules, set to be implemented just before Biden leaves office, aim to restrict the sale of artificial intelligence chips to specific countries and companies.
The restrictions will create three tiers of chip limitations, allowing friendly nations full access but imposing stricter controls on others. Countries facing limits can bypass them by meeting security and human rights standards requirements. However, adversaries will not be allowed to import semiconductors under the new rules.
Nvidia CEO Jensen Huang has expressed support for the incoming Trump administration’s AI policy and is prepared to meet with President-elect Donald Trump to help shape US strategy. The company’s shares fell 2.7% in morning trading on Friday following the announcement.
Source: https://qz.com/nvidia-biden-chip-export-restrictions-set-us-back-trump-1851736935