The chip maker urged the incumbent president not to 'pre-empt' the Trump administration with a policy to tighten export controls.

President Joe Biden’s administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia Corp. just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.

In its last days in the White House, the Biden administration reportedly is planning new regulations that could be announced as soon as Friday to further limit the export of artificial intelligence (AI) chips by companies like Nvidia.

Nvidia on Thursday criticized a reported plan by the Joe Biden administration to impose new restrictions on AI chip exports, saying that the outgoing U.S. leader should not "preempt incoming President Trump" by enacting a last-minute policy.

Nvidia Corp. criticized new chip export restrictions that are expected to be announced soon, saying the White House was trying to undercut the incoming Trump administration by imposing last-minute rules.

Nvidia broke an important chart level on Friday amid reports of its response to a new proposal to limit chip sales. Meanwhile, Nvidia's executives tackled a possible chip ban from the outgoing Biden administration.

Nvidia stock fell early Friday as the chip maker hit back at the Biden administration over reported plans to tighten restrictions on sales to China and other countries.