US officials are planning to tighten export restrictions on AI chips sold to China, according to CNN, citing the Wall Street Journal and Financial Times. Colette Kress, Nvidia’s CFO, said the company did not anticipate an immediate impact, but “over the long-term, restrictions prohibiting the sale of our datacenter GPUs to China, if implemented, would result in a permanent loss of opportunities for US industry to compete with and lead in one of the world’s largest markets, and impact on our future business and financial results.” According to the company’s financial statements, revenues from mainland China and Hong Kong accounted for 22% of total revenue last year. The Biden administration implemented measures last October to stop Chinese companies buying advanced chips and chip-making equipment without a license. Recent restrictions specifically target Nvidia’s A800 chip, developed in order for the US company to maintain sales to China after the initial restrictions were put in place. [CNN]