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.

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.

The Biden Administration plans to install another layer of export restrictions in an effort to prevent China and Russia access to artificial intelligence chips from U.S. companies such as Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD),