Key Takeaways President Donald Trump reportedly plans to repeal Biden-era chip-export curbs that were set to take effect later this month, offering a reprieve for Nvidia and other chipmakers.However,

Shares of Nvidia which has strongly opposed the proposed rules, closed up 3.1% shortly after the report. The chip maker called the rules “misguided” after they were introduced

Nvidia shares rose on a report that the Trump administration plans to revise a set of chip trade restrictions called the "AI diffusion" rule. The chip restrictions were scheduled to take effect on May 15.