Biden administration introduces AI chip export restrictions, industry expresses concerns

The Biden administration has unveiled new export rules aimed at restricting access to advanced artificial intelligence chips in 120 countries, including some of the U.S.'s key trading partners. Announced on Monday, these measures are intended to tighten control over the global distribution of high-tech AI semiconductors. However, the decision has drawn criticism from industry leaders, who fear it could disrupt supply chains and stifle innovation.

In other news, TikTok has dismissed recent speculation about China permitting the sale of its U.S. operations to billionaire Elon Musk. The company labeled the reports as "pure fiction," denying any such plans.