The U.S. government is contemplating applying new restrictions for the sale of artificial intelligence chips to China.
The Commerce Department could stop shipments of chips made by Nvidia and other chip companies to customers in China as early as July, insider reports said Wednesday.
As a result, shares of Nvidia fell more than 2%, while Advanced Micro Devices (AMD) fell about 1.5% in extended trading. Nvidia, Micron and AMD are among the U.S. chipmakers caught in the crossfire between China and the Biden administration.
In September, U.S. officials asked Nvidia to stop exporting two top computing chips for artificial intelligence work to China.
