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Consensus is growing in the U.S. Congress around tightening restrictions on advanced chip exports to China. Republicans are seeking to add new restrictions to the annual defense authorization bill, while four bills would expand congressional oversight, track the locations of processors, and prevent Chinese companies from renting computing capacity to access Nvidia chips remotely. Shares in Chinese AI companies Z.AI and MiniMax fell by as much as 12% and 8.4%, respectively, while data-center suppliers’ shares dropped by more than 8%. Jensen Huang is due to testify before Congress by November 26 about his relationship with Chinese businesswoman Alice Huang.
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