Nvidia Corp (NASDAQ:NVDA) stock is up Friday amid reports indicating the U.S. government is set to announce further sanctions on exporting semiconductor equipment and AI memory chips to China, which will be less stringent than the previous ones.
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The U.S. could announce the fresh semiconductor sanctions by next week, according to Bloomberg, citing sources familiar with the issue.
The fresh restrictions will follow months of negotiations between the U.S. government, allies like Japan and the Netherlands, and American chip equipment makers. The U.S. chip companies, including Nvidia and rivals, had previously urged the government to relax its embargo against China, a key semiconductor market.
Therefore, the U.S. expects to impose restrictions on fewer Huawei Technologies Co suppliers and restrict only two chip factories of Huawei partner Semiconductor Manufacturing International Corp.
Price Action: NVDA stock is up 1.04% at $136.80 in premarket trading at last check Friday.
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