Nvidia shares rose after the Trump administration moved to scrap the Biden-era “AI diffusion rule,” which would have imposed restrictions on exporting advanced AI chips.

The rule, set to take effect May 15, was criticized by chipmakers like Nvidia and AMD as overly complex and harmful to U.S. innovation.

The Department of Commerce said it will replace the rule with a simpler version to promote American AI dominance, CNBC has reported.

Nvidia praised the decision, calling it a major opportunity for U.S. tech leadership and job growth.

Written by B.C. Begley