Nvidia Corp. criticized new chip export restrictions that are expected to be announced soon, saying the White House was trying to undercut the incoming Trump administration by imposing last-minute rules.

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.

Nvidia broke a key chart level on Friday amid reports of its response to a new proposal to limit chip sales. Meanwhile, Nvidia's executives tackled a possible chip ban from the outgoing Biden administration.