Chip stocks surge as media reports Trump plans to lift global AI chip restrictions
The Trump administration plans to revoke the AI chip restrictions imposed during the Biden era, aiming to modify semiconductor trade policies. Following the news, chip stocks rose in the U.S. stock market's late trading, with the Philadelphia Semiconductor Index briefly up over 2%, and NVIDIA's gains expanded to over 3%. The plan is taking shape as Trump prepares to visit the Middle East, with many countries expressing anger over the U.S. restrictions on their procurement of AI chips
According to media reports, as part of efforts to modify semiconductor trade restrictions, the Trump administration plans to revoke the artificial intelligence (AI) chip restrictions implemented during Biden's presidency.
Following the news, chip stocks surged in the U.S. stock market's late trading. The Philadelphia Semiconductor Index rose more than 2% at one point. NVIDIA's gains expanded to over 3% in late trading.
Media reports indicate that the plan to revoke the restrictions aims to revise an export control policy introduced during Biden's presidency, which regulated the export destinations of chips from companies like NVIDIA into three major categories of countries. The Trump administration will not enforce the so-called "AI diffusion rules" that take effect on May 15.
Reports suggest that this plan is taking shape as Trump prepares to visit the Middle East, where many countries, including Saudi Arabia and the UAE, are angry about U.S. restrictions on their ability to procure AI chips.
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