Nvidia (NVDA) is sinking 3% after Bloomberg reported that the U.S. government is looking to tighten the restrictions on AI chips that can be exported to other nations without a license, Bloomberg reported today.

Nvidia had a rocky start to the year. That has done little to dull its popularity among individual investors, many of whom are positioning for the shares to rally after Wednesday’s earnings report.The graphics-chip maker lost nearly $600 billion in market value in a single session in late January when news of a lower-cost artificial-intelligence model from Chinese company DeepSeek temporarily rattled investors’ confidence in the AI trade.