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Nvidia Criticizes Biden Administration’s Reported AI Chip Export Restrictions

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Nvidia has expressed concern over a reported plan by the Joe Biden administration to impose new restrictions on AI chip exports, with the company urging the outgoing president not to enact a policy that could harm the U.S. economy and benefit adversaries. Nvidia’s Vice President, Ned Finkle, criticized the potential move, arguing that it could set the U.S. back and play into the hands of international competitors.

The Commerce Department and the White House have not responded to Reuters’ inquiries about the policy. According to exclusive reports, the Commerce Department is planning to approve global AI chip exports while preventing bad actors, particularly China, from accessing these advanced technologies. A Bloomberg News report suggests that new export regulations could be announced soon, with limits on the computing power that can be sent to certain countries, including China.

Finkle warned that the policy, though presented as an anti-China measure, would have broader global consequences, including limiting computing systems for other countries and driving the market toward alternative technologies. The Information Technology Industry Council, representing major tech companies like Amazon, Microsoft, and Meta, also voiced concerns, claiming that the restrictions would impede U.S. companies’ ability to compete globally.

Nvidia’s criticism comes as U.S. President-elect Donald Trump prepares to take office on January 20. Trump previously imposed restrictions on U.S. technology sales to China during his first term, citing national security concerns. Nvidia’s stock saw a decline of more than 1% following the Bloomberg report.

 

European Central Bank Joins Bluesky, Rival to Elon Musk’s X

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The European Central Bank (ECB) has started posting on the Bluesky platform, a competitor to Elon Musk’s X, formerly known as Twitter. The ECB’s move to join Bluesky comes as Musk intensifies his political campaigning in Europe, including urging voters in Germany to support a far-right party. Bluesky is one of several platforms attempting to challenge X’s dominance following Musk’s acquisition of the site.

An ECB spokesperson explained that the central bank aims to diversify its social media presence and had started engaging with several new platforms last year, making Bluesky the latest addition. The ECB’s initial post on Bluesky included an interview with its chief economist, Philip Lane, which was also shared on X. The ECB plans to continue using X alongside its new presence on Bluesky.

Musk’s political influence on X has been controversial, with critics accusing the platform of enabling the spread of misinformation. Recently, Musk hosted the leader of Germany’s far-right Alternative for Germany (AfD) party on X, an interaction that the European Commission has stated it will monitor for disinformation. Musk has also supported Italy’s right-wing Prime Minister, Giorgia Meloni.

In contrast, the ECB, under President Christine Lagarde, has focused on issues like gender equality and climate change. Musk, a vocal critic of diversity, equity, and inclusion policies, has also been outspoken against climate change efforts, supporting figures like former President Donald Trump, who has labeled climate change a hoax. Musk’s stance on the Federal Reserve has been similarly critical, calling the institution “absurdly overstaffed” and advocating for its dissolution.

Despite Bluesky’s recent growth, with 2.5 million new users added after Trump’s election, it remains much smaller than its competitors. Threads has around 252 million monthly active users, while X has approximately 317 million, according to Sensor Tower data. However, Bluesky has faced challenges with EU regulators, who criticized the platform last year for not providing essential details about its user base in the region.

 

Musk, Bezos, and Zuckerberg to Attend President-elect Trump’s Inauguration

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Tech moguls Elon Musk, Jeff Bezos, and Mark Zuckerberg are set to attend the inauguration of U.S. President-elect Donald Trump on Monday, according to a source familiar with the event’s planning. The CEOs of Tesla, Amazon, and Meta will have prominent seating alongside Trump’s Cabinet nominees and other officials during the swearing-in ceremony, NBC News reported.

Both Amazon and Meta have reportedly contributed $1 million each to support Trump’s inauguration. Elon Musk, CEO of Tesla, SpaceX, and X, played an even larger financial role, spending over $250 million to aid Trump’s election campaign in November. Representatives from Tesla, Amazon, and Meta did not immediately provide comments regarding the event or their executives’ participation.

Their attendance underscores the influence of major tech leaders in the political landscape, despite occasional public disagreements between Trump and some of the tech companies represented.