The White House is taking action to block legislation restricting AI chip exports

Jinse Finance reported, citing AXIOS, that according to four informed sources, senior White House officials are pressuring members of Congress to exclude restrictions on AI chip exports to "countries of concern" from the annual national defense policy bill. David Sacks, the White House director of AI and cryptocurrency, has been leading the effort to drop the bill, and his efforts are now supported by the White House Office of Legislative Affairs, making it highly unlikely that the bill will be included in the must-pass defense legislation. Sources said that government officials have been calling key lawmakers, including House Majority Leader Scalise, telling them to oppose the bill. The bill requires chip companies to meet U.S. customer procurement requirements before exporting to "countries of concern." It also includes certain export license exemptions for "trusted" entities. Previously, Nvidia CEO Jensen Huang successfully convinced key U.S. government officials that it is beneficial for American companies to serve countries of concern. If the "Guarding National AI Innovation and Access Act" (GAIN AI Act) does not make it into the final version of the National Defense Authorization Act, Nvidia will be a big winner.