U.S. President Donald Trump says he may ease export restrictions on advanced AI chips to Persian Gulf countries, just ahead of his first visit to the region. The U.S. Commerce Department also says Biden administration rules are being scrapped for being too complex and limiting innovation.
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00:01U.S. President Donald Trump says he may ease restrictions on advanced AI chip exports to Persian Gulf countries ahead of his first trip to the Middle East.
00:11Are you planning to ease chip export restrictions to some of these Gulf countries and then also make announcements regarding...
00:18We might be doing that, yeah.
00:19And their nuclear programs, civilian nuclear programs?
00:21And it'll be announced soon.
00:22The U.S. Commerce Department also said it would throw out rules that classified countries into three tiers, restricting their access to U.S. chips.
00:32A spokesperson for the department said the rules introduced by the Biden administration were overly complicated and would stifle U.S. innovation.
00:40They were to take effect on May 15th.
00:43U.S. chip designer NVIDIA's stock price was up 3 percent on the news.