The Biden administration will impose even tighter curbs on AI and other advanced chips from Nvidia and Advanced Micro Devices before President-elect Donald Trump is sworn in on Jan. 20, Bloomberg reported Wednesday night.
AMD and Nvidia stock edged lower late Wednesday and were indicated slightly lower Thursday night.
The U.S. will limit unfettered access to advanced chips to a handful of close allies such as Japan, Europe and Australia, according to a report. Most of the world will face restrictions on a country and company basis. U.S. adversaries such as China and Russia will be effectively blocked. New curbs on Southeast Asia and Persian Gulf states are aimed at preventing AI chips from falling into the hands of Beijing and Moscow.
The Biden administration could impose the new AI chip curbs as soon as Friday, Bloomberg reported.
Nvidia stock fell 1% late Wednesday, signaling a move below the 50-day line. Shares were indicated about 1% lower Thursday night on Robinhood.
NVDA stock lost 2 cents to 140.11 Wednesday, after diving 6.2% on Tuesday.
AMD stock edged lower Wednesday following the regular session's 4.3% retreat, near a 52-week low. AMD was indicated slightly down Thursday night on Robinhood.
Broadcom, another AI play, also edged lower. Taiwan Semiconductor, which makes chips for Nvidia and Broadcom, also lost a fraction. Taiwan Semi will report December sales early Friday.
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