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US Plans to Tighten AI Chip Export Controls; NVIDIA/ Others Require Govt Approval for Global Shipments
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The US government is weighing further tightening controls on the export of AI chips, potentially requiring companies to obtain approval from Washington before exporting AI chips to any location worldwide, Bloomberg reported. Spurred by the news, chip stocks came under pressure. NVIDIA (NVDA.US) lost over 1.5%. AMD (AMD.US) shed more than 3%. Micron (MU.US) slid 4%. Intel (INTC.US), with the White House as a shareholder, inched down less than 1%. US officials drafted regulatory proposals that will require companies to obtain government permission before exporting AI accelerators, affecting products from companies like NVIDIA and AMD, sources divulged. If implemented, the measures will expand the current restrictions, which apply to about 40 countries, to the whole world. AASTOCKS Financial News Website: www.aastocks.com |
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