Biden administration seeks new limits on AI chip exports to maintain U.S. technology lead

The Biden administration has proposed new restrictions on exporting advanced computer chips used for artificial intelligence. This aims to maintain the U.S. lead in AI technology over competitors like China. The proposal has raised concerns among chip industry leaders, including Nvidia. The new rules would limit access to chips for video games and restrict exports to 120 countries, including Mexico and Portugal. While key allies like Canada and the UK would face no restrictions, other nations could only import a limited number of chips. Industry executives warn that these restrictions could harm innovation and disrupt global supply chains. The proposal includes a 120-day comment period, allowing the incoming Republican administration to influence the final rules.