Nvidia's stock climbed after a Bloomberg report revealed the Trump administration intends to revoke the 'AI diffusion' chip trade restrictions. These restrictions, proposed by the Biden administration, categorized countries into tiers with varying export license requirements for advanced AI chips. The rule's May 15th implementation is now reportedly cancelled. Chipmakers like Nvidia and AMD opposed the restrictions, advocating for a balance between national security and industry growth. Nvidia declined comment, while AMD's CEO expressed concerns about impacting the US chip industry.

Prepared by Christopher Adams and reviewed by editorial team.