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Market Chatter: Tech Group Cautions Biden Administration Against Rule Meant to Curtail International Access to AI Chips
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Market Chatter: Tech Group Cautions Biden Administration Against Rule Meant to Curtail International Access to AI Chips
Jan 8, 2025 5:46 AM

08:28 AM EST, 01/08/2025 (MT Newswires) -- A tech group representing companies like Amazon ( AMZN ) , Microsoft ( MSFT ) , and Meta (META) called on the Biden administration to avoid implementing a rule that would curtail international access to AI chips, Reuters reported Tuesday, citing the group's letter to US Commerce Secretary Gina Raimondo.

The Information Technology Industry Council reportedly said that the implementation of the rule primarily aimed at preventing AI from strengthening China's military capabilities could harm US leadership in artificial intelligence and benefit foreign rivals.

Expediting the rule to completion, which is anticipated as early as Friday, could lead to "significant adverse consequences," the news outlet quoted the group's Chief Executive Jason Oxman as saying.

The US Department of Commerce and White House did not immediately respond to MT Newswires' requests 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.)

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