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: U.S. plans new curbs on exports of chips, chip-making tools to China: report

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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.

Also read: 12 semiconductor stocks bucking the downcycle trend

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.

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