Biden steps up AI chip embargo on China

Washington is set to expand restrictions next month on US semiconductor exports to China as it looks to slow the development of the country’s chip making industry, Reutersreported, citing people familiar with the matter. The Commerce Department will issue new regulations prohibiting some US companies from exporting chip-making equipment and will codify instructions handed to Nvidia and AMD last month banning them from selling AI semiconductors to Chinese firms, the people said.