Nvidia is cozying up to the incoming Trump administration after criticizing a new AI framework just announced by the Biden administration. The rules are meant to keep advanced chips and AI models under the control of the United States and its allies, but the President-elect will have the final decision on whether to enforce them.

The Biden administration’s latest bid to curb China’s access to the most advanced AI models and AI chips could have a major impact on the AI boom and its enablers, most prominently chip giant Nvidia.

Nvidia shares were up 2.2% at $136.22 in premarket trading. The stock fell 2% on Monday. The Biden administration on Monday outlined AI chip restrictions that would apply caps on