June 29 (Cointime) - US officials are considering stricter controls on the export of artificial intelligence (AI) chips to China, with an update to the rules expected by late July. The regulations would likely limit the computing power of chips that can be exported, causing concern among major players in the industry.

Nvidia's CFO, Colette Kress, warned that such restrictions would result in a permanent loss of opportunities for US industry to compete and lead in one of the world's largest markets. Meanwhile, Chinese developers are reportedly finding ways to develop AI chips using weaker semiconductors and combinations of chips currently available to them.