Nvidia (NASDAQ:NVDA) criticized a potential plan for new AI chip export curbs, which could be announced soon by the outgoing Joe Biden administration, Bloomberg News reported. "We would encourage President Biden to not preempt incoming President Trump by enacting a policy that will only harm the U.

Nvidia Corp. criticized new chip export restrictions that are expected to be announced soon, saying the White House was trying to undercut the incoming Trump administration by imposing last-minute rules.

Nvidia broke a key chart level on Friday amid reports of its response to a new proposal to limit chip sales. Meanwhile, Nvidia's executives tackled a possible chip ban from the outgoing Biden administration.

President Joe Biden’s administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia Corp. just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.

The chip maker urged the incumbent president not to 'pre-empt' the Trump administration with a policy to tighten export controls.