Shares of Nvidia Corp. climbed toward the end of trading Wednesday after a report that the Trump administration is not planning to implement artificial-intelligence rules controlling chips shipments that was introduced by the Biden administration.

One effect of the change will be its likely benefits for NVIDIA; shares of the company’s stock rose 3% after the news about the AI chips export rule change was announced.

President Trump's plan to repeal Biden-era chip-export curbs could come as a relief for Nvidia and other chipmakers—but that could prove temporary, analysts warned.