Nvidia opposes Biden's reported plan for AI chip export restrictions

Nvidia has criticized a reported plan by the Biden administration to impose new restrictions on AI chip exports. The company argues that such a policy would harm the U.S. economy and benefit adversaries, urging Biden not to act before Trump takes office. The proposed restrictions aim to prevent adversaries, particularly China, from accessing advanced AI technology. Reports suggest that new regulations could be announced soon, limiting the computing power that can be exported to certain countries. Nvidia's Vice President warned that these measures could push global markets toward alternative technologies. The Information Technology Industry Council also expressed concerns that the rules would hinder U.S. companies' competitiveness abroad.