Nvidia Corp. criticized new chip export restrictions that are expected to be announced soon, saying the White House was trying to undercut the incoming Trump administration by imposing last-minute rules.

Nvidia on Thursday criticized a reported plan by the Joe Biden administration to impose new restrictions on AI chip exports, saying that the outgoing U.S. leader should not "preempt incoming President Trump" by enacting a last-minute policy.

Nvidia has criticized the Biden administration for upcoming new AI restrictions just a week before President-elect Donald Trump takes office. The U.S. chipmaker said the

Nvidia broke a key chart level on Friday amid reports of its response to a new proposal to limit chip sales. Meanwhile, Nvidia's executives tackled a possible chip ban from the outgoing Biden administration.

The chip maker urged the incumbent president not to 'pre-empt' the Trump administration with a policy to tighten export controls.

KEY TAKEAWAYS In its last days in the White House, the Biden administration reportedly is planning new regulations that could be announced as soon as Friday to further limit the export of artificial intelligence (AI) chips by companies like Nvidia.