Nvidia shares were up 2.2% at $136.22 in premarket trading. The stock fell 2% on Monday. The Biden administration on Monday outlined AI chip restrictions that would apply caps on

The Biden administration’s latest bid to curb China’s access to the most advanced AI models and AI chips could have a major impact on the AI boom and its enablers, most prominently chip giant Nvidia.

Nvidia stock was rising early Tuesday. The chip maker looks to be finding its footing in the face of a proposed expansion of curbs on exports of artificial-intelligence technology. Nvidia shares were up 1.