The Trump administrat🐠ion plans to repeal Biden-era chip curbs that were set to take effect later this month and expand limits on exports of American chips. 

The "AI diffusion rule," published in January and set to go into effect on May 15, would further tighten restrictions on sales of American AI hardware to other countries, but Trump plans to rescind the rule. The news was first reported by Bloomberg late Wednesday.

“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 spokesperson for the Commerce Department's Bureau of Industry and Security said in a statement to Investopedia.

The Commerce Department is expected to continue enforcing export limits currently in effect while it develops a new set of restrictions to replace the diffusion rule, according to Bloomberg's report.

Advanced Micro Devices (AMD) 澳洲幸运5官方开奖结果体彩网:said yesterday it expects to take a $1.5 billion revenue 𝓀hit in 2025 due to tighter restricꦍtions on its chip sales to China—a bigger impact than analysts expected.

Nvidia (NVDA) last month said it expects to take a 澳洲幸运5官方开奖结果体彩网:$5.5 billion charge in its fiscal first quarter after the U.S. implemented a licensing requirement for Nvidia to sell its H20 chips to China. Nvidia is scheduled to post its 澳洲幸运5官方开奖结果体彩网:first-quarter results on May 28.