The White House on Monday announced new restrictions on artificial intelligence exports that will impact companies including Nvidia.
The restrictions, impacting companies including Nvidia and Advanced Micro Devices, were consistent with Bloomberg’s report last week on what was coming.
Nvidia shares (NVDA) fell 3% as AMD stock (AMD) dipped 2% in premarket trade. The broader market also is weaker on concerns over how many interest-rate cuts the Federal Reserve will make this year.
Under what’s called the interim final rule on artificial intelligence diffusion, most countries will be subject to caps on chip orders.
The White House said the restrictions will not applies to 18 key allies and partners, and countries and entities that meet high security and trust standards can apply for higher status.
Countries that do not will be able to buy the equivalent of 50,000 advanced GPUs per country, a White House fact sheet said.