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

The outgoing presidential administration seeks to drop one last bombshell on the US tech industry before it goes.

Nvidia stock fell early Friday as the chip maker hit back at the Biden administration over reported plans to tighten restrictions on sales to China and other countries.

"We would encourage President Biden to not preempt incoming President Trump by enacting a policy that will only harm the US economy, set America back, and play into the hands of US adversaries," Nvidia VP Ned Finkle tells Reuters on Friday.

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 criticised 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. Read more at The Business Times.

Nvidia has voiced strong opposition to a reported plan by the Biden administration to impose new restrictions on AI chip exports. The leading AI chip company has called the policy potentially harmful to the US economy,

The White House is finalizing additional restrictions on the export of artificial intelligence microchips that would hit companies including Nvidia and Advanced Micro Devices, according to a report.

President Joe Biden’s administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia Corp. just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.

The regulations would create three tiers of chip trade restrictions, granting full access to allies, limited access to most of the world and virtually no access to adversaries.