Nvidia stock (NVDA) fell as much as 3% early Monday after the Biden administration released an updated export rule aimed at controlling the flow of artificial intelligence chips to "adversaries" such as China.

Nvidia (NVDA) on Monday quickly slammed newly released Biden administration rules to regulate chip sales to foreign countries.

Nvidia is cozying up to the incoming Trump administration after criticizing a new AI framework just announced by the Biden administration. The rules are meant to keep advanced chips and AI models under the control of the United States and its allies, but the President-elect will have the final decision on whether to enforce them.

The company is making an explicit appeal to the president-elect to reject tighter controls on the export of artificial-intelligence hardware.

New rule threatens to squander America's hard-won technological advantage' says GPU supremo Nvidia has hit back at the outgoing Biden administration's AI chip tech export restrictions designed to tighten America's stranglehold on supply chains and maintain market dominance.