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Nvidia, AMD stocks fall on report of new U.S. ban on AI chip exports to China

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Shares of Nvidia and Advanced Micro Devices slumped in the extended session Tuesday following a report that the Biden administration is considering a new ban on sales of AI chips to China.

Shares of Nvidia Corp. and Advanced Micro Devices Inc. slumped in the extended session Tuesday following a report that the Biden administration is considering a new ban on sales of AI chips to China.

Late Tuesday, the Wall Street Journal reported the Commerce Department could further block sales of AI chips to China unless U.S. companies first obtain a special license.

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