Investing.com-- Shares of major Chinese chipmaking firms rose sharply in Shanghai and Hong Kong trade on Friday after Bloomberg reported the U.S. was considering less strict export restrictions on Beijing than feared.Bloomberg reported this week that the Biden administration was preparing more restrictions on sales of artificial intelligence technology and semiconductor equipment to China, in order to stem Beijing’s efforts in the fast-growing AI industry.
The U.S. had imposed strict export restrictions on AI technology to China in 2023, which prevents chipmakers such as NVIDIA Corporation (NASDAQ:Nvidia and other chipmakers have warned that more export restrictions could potentially dent sales.
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