The Biden administration's proposed export controls on AI chips have raised significant concerns within the semiconductor industry, particularly impacting Nvidia. The new Export Control Framework for Artificial Intelligence Diffusion aims to impose stringent regulations on the export of AI processors and GPUs, which could severely affect Nvidia's business operations. Both the Semiconductor Industry Association and Nvidia have criticized the framework, arguing that it could undermine U.S. leadership in semiconductor technology and push international customers towards alternative technologies. Nvidia's Vice President of Government Affairs, Ned Finkle, has expressed concerns that these restrictions could unnecessarily limit global access to widely used technologies, potentially harming the U.S. economy and its technological leadership.
The ETF Opportunities Trust T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) saw a rise of 3.37% to $2.76 as of 7:00 AM on Thursday, January 23.