Nvidia shares climb as Trump administration prepares to end chip export restrictions

Nvidia CEO Jensen Huang, right, speaks alongside President Donald Trump about investing in America, at the White House in Washington, on April 30, 2025. Nvidia shares rose on Wednesday as the Trump administration prepared to rescind what's known as the "AI diffusion rule," effectively stopping a set of artificial intelligence chip controls from taking effect later this month. A Department of Commerce spokesperson confirmed the plan to CNBC after Bloomberg reported on it earlier. "The Biden AI rule is overly complex, overly bureaucratic, and would stymie American innovation. We will be replacing it with a much simpler rule that unleashes American innovation and ensures American AI dominance," a Department of Commerce spokesperson said in a statement. The rule, which was proposed in the last days of the Biden administration, organizes countries into three different tiers, all of which have different restrictions on whether advanced AI chips such as those made by Nvidia, Advanced Micr ... Read full article.