The Trump administration repealed the AI chip restriction regulations during Biden's term, causing a surge in chip stocks.

On May 13th, Eastern Time, driven by a lot of positive news, US chip stocks led by Nvidia saw a significant increase. The Philadelphia Semiconductor Index rose over 3%, Nvidia rose nearly 6%, Micron Technology rose over 5%, Broadcom rose nearly 5%, AMD and Qualcomm both rose over 4%. According to sources, the Trump administration is considering a deal that would allow the UAE to import over 1 million advanced chips from Nvidia, far exceeding the limits set by the artificial intelligence chip regulations during the Biden era. Sources say that the deal is still under negotiation and may change. From now until 2027, the UAE can import the most advanced chips on the market, with one-fifth reserved for Abu Dhabi's AI company G42, and the rest reserved for American companies building data centers in the UAE. Additionally, on May 13th local time, the US Department of Commerce announced the revocation of the AI export controls enacted by former President Biden, which imposed third-party export controls on countries seeking AI chips, originally set to take effect on May 15th. Sources say that the Trump administration is drafting its own plan and may instead negotiate separate agreements with other countries.