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

Once reticent to get involved in policy debates, Nvidia issued a sharply-worded blog post criticizing Biden's sweeping new export restrictions on AI chips and other AI technology

Global data centers are filling up with GPUs and Nvidia has so far claimed an estimated 90% of that market share. Highly complex chips like GPUs are largely manufactured in Taiwan, but most of the companies that design them are based in the US and so their products are within the Department of Commerce's jurisdiction.