AsianFin -- The U.S. Commerce Department on Tuesday announced new export licensing requirements for advanced AI chips developed by Nvidia and AMD, including Nvidia’s H20 and AMD’s MI308 models, as part of tightening trade controls on technology exports to China.

A Commerce Department spokesperson said the move aligns with the Biden administration’s commitment to “safeguarding national and economic security.”

The announcement follows Nvidia’s disclosure that it expects to take up to $5.5 billion in charges related to halted H20 chip shipments to China. The AI chip is among Nvidia’s top-selling products, and China represents a major market for the company’s data center business.