Nvidia on Thursday criticized a reported plan by the Joe Biden administration to impose new restrictions on AI chip exports, saying that the outgoing U.S. leader should not "preempt incoming President Trump" by enacting a last-minute policy.

President Joe Biden’s administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia Corp. just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.

Nvidia (NASDAQ:NVDA) criticized a potential plan for new AI chip export curbs, which could be announced soon by the outgoing Joe Biden administration, Bloomberg News reported. "We would encourage President Biden to not preempt incoming President Trump by enacting a policy that will only harm the U.