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Trump Said to Lift Chip Export Bans; Nvidia Swells 3% to Lead Gains
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The Trump administration plans to rescind Biden-era AI chip restrictions, which are slated to take effect on May 15, Bloomberg, citing sources, reported. The news spurred chip stocks, with Nvidia (NVDA.US) surging over 3% at close, while AMD (AMD.US) and Intel (INTC.US) each leaped nearly 2%. The Biden administration’s rule, introduced in its final days of governance, divided countries into three tiers, each with varying restrictions on whether advanced AI chips from companies like Nvidia, AMD, and Intel could be exported without a license. AAStocks Financial News |
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