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Nvidia China Export Curbs
Consensus is growing in the U.S. Congress around tightening restrictions on exports of advanced chips to China. Republicans are seeking to add new restrictions to the defense authorization bill and advance four bills to expand congressional oversight of exports and prevent chips from being smuggled or accessed remotely. Shares in Chinese AI companies Z.ai and MiniMax fell by as much as 12% and 8.4%, respectively, amid investor concerns about the restrictions. Nvidia’s outgoing CEO, Jensen Huang, is scheduled to testify before Congress by November 26.
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