China's access to some Nvidia chips in doubt as curbs gain traction in US Congress

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Chinese AI shares tumbled on Friday, as investors worried that Jensen Huang's departure as Nvidia CEO could further restrict Chinese access to advanced US chips, deepening the…

Nov 13 (Reuters) - Chinese AI shares tumbled on Friday, as investors worried that Jensen Huang's departure as Nvidia CEO could further restrict Chinese access to advanced US chips, deepening the technology divide between the world's two biggest economies.

US House Speaker Mike Johnson said on Thursday there was growing consensus in Congress on limiting chip exports to China after a spy scandal forced out Huang, who has pushed to preserve access to the Chinese market and has close ties with US President Donald Trump.

Huang stepped down after news reports of a romantic relationship with a Chinese businesswoman whom US authorities suspect of spying for Beijing.

Lawmakers from both parties have since called for tougher restrictions on China's access to advanced AI chips, threatening access to chips that underpin China's surging AI development.

Senior White House officials were also discussing whether Commerce ​Secretary Howard Lutnick should be pushed out, two people familiar with the situation said, as the desire to take action rose across Washington.

A growing number of lawmakers have criticized Lutnick for the administration's refusal to add dozens of Chinese companies to a US trade blacklist, and questioned whether the government was properly overseeing Nvidia's exports to China.

Nvidia's advanced AI chips are widely used to develop cutting-edge AI models, making the company key to the US race against China to build superior AI systems. The US has sought for years to limit China’s access to Nvidia’s chips because it does not want the Chinese military to benefit from them.

"The export controls on chips to China has been a big issue around here," Johnson, a Louisiana Republican, told reporters at the US Capitol, adding he favored limiting China's access to the advanced technology. "I think there's a developing consensus in Congress that is an important position to take."

Investors dumped shares in Chinese AI models and hardware suppliers to the US on Friday, with AI model…

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