Trump to Withdraw Biden's Chip Export Restrictions, Create New Rules
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Chips stocks surged after the Trump administration announced plans to withdraw the Biden administration's AI chip export restrictions, known as the AI Diffusion Rule, which was set to take effect on May 15. A spokesperson from the Commerce Department criticized the Biden rule as overly complex and stated that a simpler replacement will be introduced to foster American innovation. Nvidia (NVDA) shares rose by 3% following the news.
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