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Nvidia has come out swinging against President Biden in his final few days in office.
"In its last days in office, the Biden Administration seeks to undermine America’s leadership with a 200+ page regulatory morass, drafted in secret and without proper legislative review. This sweeping overreach would impose bureaucratic control over how America’s leading semiconductors, computers, systems and even software are designed and marketed globally. And by attempting to rig market outcomes and stifle competition — the lifeblood of innovation — the Biden Administration’s new rule threatens to squander America’s hard-won technological advantage,” Nvidia said in a new blog post on Monday.
This is in response to the administration looking to implement chip export controls that would take effect before Biden leaves office. The controls would curb the sale of AI chips from the likes of Nvidia (NVDA) to specific countries as a means to boost US development.
Nvidia shares have have been pressured recently due to fresh risk-off tones in markets. The stock also sold off after a mixed keynote address by Nvidia CEO Jensen Huang, which didn’t include a guidance raise.
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