Nvidia shares were up 2.1% at $136 in premarket trading. The stock fell 2% on Monday. The Biden administration on Monday outlined AI chip restrictions that would apply caps on U.S

Nvidia is cozying up to the incoming Trump administration after criticizing a new AI framework just announced by the Biden administration. The rules are meant to keep advanced chips and AI models under the control of the United States and its allies, but the President-elect will have the final decision on whether to enforce them.

Nvidia faces a significant revenue threat due to the latest U.S. export restrictions on artificial intelligence chips, designed to limit the global distribution of these coveted processors, analysts and investors said on Monday.