Trump to Roll Back Biden AI Chip Export Curbs

The Trump administration plans to rescind Biden-era export restrictions on advanced AI chips, which were scheduled to take effect on May 15, citing concerns over bureaucratic complexity and impacts on American innovation. The rollback is expected to benefit semiconductor companies such as Nvidia and AMD, and countries like Saudi Arabia, the UAE, and India, who have been advocating for less restrictive rules to advance their AI sectors. The announcement has led to a surge in semiconductor and crypto-related stocks, as increased chip supply could lower hardware costs for industries such as blockchain and crypto mining. While the Commerce Department intends to develop a simpler framework to control sensitive technology exports, the new rules are still being drafted and questions remain about how national security concerns, particularly regarding China, will be addressed. Existing tariffs and certain export restrictions, such as those on China, remain unchanged. The move comes ahead of President Trump's planned trip to the Middle East, where technology access is anticipated to be a major topic of discussion.