Trump administration set to end Biden's U.S. 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. The Trump administration on Wednesday prepared to rescind U.S. chip export restrictions known as the "AI diffusion rule," effectively stopping a set of artificial intelligence semiconductor limits from taking effect next week. A Department of Commerce spokesperson confirmed the plan to CNBC after Bloomberg reported on it earlier. Nvidia shares climbed Wednesday in reaction to the news. The company has been vocal in its stance that restricting chip exports limits U.S. leadership in advanced technology. "We welcome the Administration's leadership and new direction on AI policy," an Nvidia spokesperson said in a statement. "With the AI Diffusion Rule revoked, America will have a once-in-a-generation opportunity to lead the next industrial revolution and create high-paying U.S. jobs, build new U.S.-supplied infrastructure, and alleviat ... Read full article.