After a week or so of rumors, the U.S. Department of Commerce formally rescinded Biden-era AI export controls that were set to go into effect on May 15.

The Commerce Department on Monday officially rescinded the former Biden administration’s artificial intelligence diffusion rule that would have placed caps on chip sales to most countries around the world.

The U.S. has revamped Biden-era rules on artificial-intelligence chips, scrapping an unpopular measure in a move that could benefit major players like Nvidia.