The Biden administration plans to expand export restrictions for U.S. chip companies to China, according to a new report.
Reuters reported Sunday night that the new curbs on artificial-intelligence semiconductors and chip-making tools will be based on restrictions issued earlier this year in letters to KLA Corp. KLAC, +2.16%, Lam Research Corp. LRCX, +2.65% and Applied Materials Inc. AMAT, +2.90%.
The restrictions barred those companies from exporting semiconductor equipment to Chinese chip makers that were making sub-14-nanometer processes, unless first approved by the Commerce Department, according to Reuters.
The report said the new curbs would also codify restrictions sent last month to Nvidia Corp. NVDA, +2.84% and Advanced Micro Devices Inc. AMD, +3.23% against shipping certain AI chips to China. Nvidia shares sank to a 52-week low after disclosing the restrictions.
The broader restrictions could impact a number of other major tech companies, including Intel Corp. INTC, +2.31%, Dell Technologies Inc. DELL, +3.35% and Hewlett-Packard Enterprise Co. HPE, +1.44%, according to the report.
Reuters also said other restrictions may be added.