Nvidia on Thursday criticized a reported plan by the Joe Biden administration to impose new restrictions on AI chip exports, saying that the outgoing U.S. leader should not "preempt incoming President Trump" by enacting a last-minute policy.

The Biden administration is planning to impose more restrictions on chip sales to China and Russia, according to a report.

The White House is finalizing additional restrictions on the export of artificial intelligence microchips that would hit companies including Nvidia and Advanced Micro Devices, according to a report.

China plans to tighten export restrictions on certain technology used to make battery components and the processing of two crucial metals amid rising trade tensions globally.

Nvidia on Thursday criticized a reported plan by the Joe Biden administration to impose new restrictions on AI chip exports, saying that the outgoing U.S. leader should not "preempt incoming President Trump" by enacting a last-minute policy.

KEY TAKEAWAYS In its last days in the White House, the Biden administration reportedly is planning new regulations that could be announced as soon as Friday to further limit the export of artificial intelligence (AI) chips by companies like Nvidia.

Nvidia (NASDAQ:NVDA) has voiced concerns over the Biden administrations reported plans to impose stricter AI chip export rules. Nvidias Vice President, Ned Finkle, urged the administration to avoid

Biden plans new AI chip export restrictions to prevent technology access for China and Russia, aiming for global compliance.

The Biden administration is now preparing new restrictions to bar the export of AI chips, such as those made by Nvidia Corp. The move, which came just days before President Joe Biden leaves office, is another piece of a larger strategy to control who gets to develop and use cutting-edge AI.