Biden Administration Weighs Further Curbs on Sales of A.I. Chips to China

The deliberations were earlier reported by The Wall Street Journal. Nvidia's shares fell roughly 2 percent in morning trading on Wednesday following reports of the potential export crackdown. The company has been one of the primary beneficiaries of the enthusiasm over artificial intelligence, with its share price surging by roughly 180 percent this year. Such additional restrictions, if adopted, would not have an immediate impact on Nvidia's financial results, Colette Kress, the chief financial officer of Nvidia, said Wednesday on a call with reporters. But over the long term, they "will result in a permanent loss of opportunities for the U.S. industry to compete and lead in one of the world's largest markets," she said.