The U.S. government plans to withdraw a rule introduced under the Biden administration that had aimed to restrict exports of advanced AI chips — a policy that had posed challenges for major semiconductor companies like Nvidia (NVDA) and AMD (AMD).

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.

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.