Chip stocks surge as media reports Trump plans to lift global AI chip restrictions
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The Trump administration plans to revoke the AI chip restrictions imposed during the Biden era, aiming to modify semiconductor trade policies. Following the news, chip stocks rose in the U.S. stock market's late trading, with the Philadelphia Semiconductor Index briefly up over 2%, and NVIDIA's gains expanded to over 3%. The plan is taking shape as Trump prepares to visit the Middle East, with many countries expressing anger over the U.S. restrictions on their procurement of AI chips
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