Nvidia criticized the Biden Administration's restrictive new rules on AI chip exports, arguing it undermines America’s global leadership in technology and innovation.
Nvidia's VP Ned Finkle claimed the new regulations are a "200+ page regulatory morass" made without proper legislative review, threatening America's tech advantage.
Finkle emphasized the need for America to win through innovation and competition rather than government overreach, citing Trump's past policies as beneficial for AI industry.
Following the announcement, Nvidia’s shares dropped over 3%, highlighting the immediate impact of the Biden administration's new AI chip export restrictions.
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