Only a few years ago, the Biden administration declared export controls a “new strategic asset” to help the US maintain “as large a lead as possible” over China in advanced technology. President Donald Trump is now upending that approach.

Nvidia is back in business with China. So is AMD. The Biden-era export controls on advanced AI chips used to be the cornerstone of America’s tech advantage. But they have been partially rolled back by the Trump administration.

Amidst the chaos of Trump's AI regulation, American tech firms are facing confusion and anxiety. Meanwhile, China is seizing the opportunity, focusing on practical AI deployment and attracting top talent.

The US has given chipmakers like Nvidia and AMD the opportunity to sell their chips to China again. Derrick Irwin, portfolio manager at Allspring Global Investments, says the US may have retain some dominance,