08:32 AM EDT, 07/03/2024 (MT Newswires) -- Nvidia's ( NVDA ) advanced AI chips are being sold to Chinese buyers through a barely concealed network that circumvents Biden administration restrictions, The Wall Street Journal reported on Tuesday.

More than 70 distributors openly advertise the chips online, the Journal reported, with many saying they have supplies amounting to dozens of the high-end Nvidia ( NVDA ) chips each month.

The Commerce Department, which oversees enforcement of the US restrictions, didn't respond to requests for comment, the Journal said.

Nvidia ( NVDA ) said it doesn't sell its restricted advanced chips to China, in accordance with the US export controls, and it works primarily with well-known partners to comply with the rules. "We apply the same standard to all transactions, large or small, and expect our partners to do the same," an Nvidia ( NVDA ) spokesperson told the Journal.

Nvidia ( NVDA ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 121.69, Change: -0.98, Percent Change: -0.80