U.S. denies blocking chip sales to Middle East
The Biden administration denies blocking chip sales to the Middle East but has expanded export license requirements for Nvidia and Advanced Micro Devices' artificial-intelligence chips.
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Nvidia warns that stronger US restrictions on chip sales to China will harm American companies in the long term, while also acknowledging that stricter rules wouldn't have an immediate material impact on their finances.
The executive order announced by President Biden restricts US venture capital and private equity investments in sensitive Chinese tech sectors, potentially ending foreign investment in areas such as chips and AI in China.
The U.S. has expanded export restrictions of Nvidia artificial-intelligence chips beyond China to other regions, including some countries in the Middle East, citing national security concerns.
The Biden administration's export ban is causing China's largest contract chipmaker, SMIC, to face restrictions on export sales, leading to concerns about the acceleration of the US-China tech war.