Biden admin. expands curbs on shipments of AI chips to China

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Chip maker stocks like Nvidia (NVDA) are under pressure as the Biden administration announced that it would tighten its restrictions around exporting...

) are under pressure as the Biden administration announced that it would tighten its restrictions around exporting artificial intelligence chips to China. The restrictions are a part of a broader effort from the White House to restrict China's military from gaining an advantage with AI. The restrictions only apply to the most advanced chips while most semiconductors will remain unrestricted, according to Commerce Secretary Gina Raimondo.

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Chip Stocks Shed $73 Billion After US Curbs Nvidia Sales to ChinaSemiconductor stocks slipped on Tuesday after the US announced sweeping updates to export curbs designed to block China’s access to advanced computer chips, changes that will restrict the sale of semiconductors that Nvidia Corp. designed specifically for the Chinese market.
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