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“We hope that the next administration takes full advantage of those 120 days to listen to experts, industry, industry players, partner countries,” Raimondo said. “I fully expect the next administration may make changes as a result of that input.”

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“We believe we’re in a critical window right now, particularly vis-a-vis China,” one official said. “Every minute counts from our perspective.”

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the indian wood products company limited (540954) stock experiences sudden dip ✌️【Investment】✌️ Expert market analysis and predictions for India, US, and European stocks. Stay updated with real-time data on stock indices, futures, and commodities to help you make informed, timely investment decisions. Tech giants Nvidia, the world’s largest provider of processors that power AI, and Oracle as well as an influential semiconductor industry group blasted the newest restrictions, accusing the Biden administration of bureaucratic overreach and saying they would harm US competitiveness.

In a blog post published on Monday, Ned Finkle, Nvidia’s vice president of government affairs, wrote the adoption of AI around the world fuels growth and opportunity for industries at home and abroad.

“That global progress is now in jeopardy. The Biden Administration now seeks to restrict access to mainstream computing applications with its unprecedented and misguided ‘AI Diffusion’ rule which threatens to derail innovation and economic growth worldwide,” he wrote.

“While cloaked in the guise of an ‘anti-China’ measure, these rules would do nothing to enhance US security,” he added.

Oracle Executive Vice President Ken Glueckwrote last weekthe rule “does more to achieve extreme regulatory overreach than protect US interests and those of our partners and allies.”

“It practically enshrines the law of intended consequences and will cost the US critical technology leadership,” he said.

Last week, the Washington-based Semiconductor Industry Association said it was “deeply concerned by the unprecedented scope and complexity of this potential regulation, which was developed without industry input and could significantly undercut US leadership and competitiveness in semiconductor technology and advanced AI systems.”

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