The Trump administration plans to scrap the Biden-era AI Diffusion Rule that restricted AI chip exports to most countries, replacing it with a simpler, negotiation-driven policy that maintains tough controls on China but opens doors for bilateral deals.

One effect of the change will be its likely benefits for NVIDIA; shares of the company’s stock rose 3% after the news about the AI chips export rule change was announced.

The Commerce Department said it doesn’t intend to implement AI processor restrictions drawn up under the Biden administration.