Nvidia stock fell over 1% in overight trading while AMD fell 0.76%.

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.

The US wants to curb the sale of AI chips used in data centers on both a country and company basis, with the goal of concentrating AI development in friendly nations and getting businesses around the world to align with American standards, according to people familiar with the matter.

Nvidia objected to the proposal in a statement. “A last-minute rule restricting exports to most of the world would be a major shift in policy that would not reduce the risk of misuse but would threaten economic growth and US leadership,” Nvidia said. “The worldwide interest in accelerated computing for everyday applications is a tremendous opportunity for the US to cultivate, promoting the economy and adding US jobs.”

Quantum shares rebounded in overnight trading. SEALSQ Corp rose 21% after sinking 26% in prior session. Rigetti Computing, IONQ Inc., Quantum Computing Inc. rose around 9%; , D-Wave Quantum Inc. rose over 7%.

D-Wave Quantum CEO Alan Baratz says Nvidia CEO Jensen Huang is an authority on many areas of computing, but not all areas and not on quantum computing. Huang is “dead wrong” with his comments on the usefulness of quantum applications being years away, argues Baratz, who says that his company is “commercial today” and its services are being used by companies like Mastercard (MA) today, “not 30 years from now, today.”

Crypto shares slid in overnight trading as cryptocurrency companies faced the brunt of Bitcoin's descent to its lowest level since November 2024. Bitcoin fell below $93,000, extending its decline amid fading enthusiasm following the post-election rally fueled by Donald Trump's presidential victory.

CleanSpark, Inc. fell nearly 4%; MicroStrategy, MARA Holdings, Riot Platforms fell over 2%.

Bitcoin's recent slump comes after it had surged to record highs above $108,000 in early December, riding on expectations of a crypto-friendly administration under President-elect Trump. However, the rally has lost steam in the run-up to Trump's inauguration as investors grapple with concerns over rising inflation and a potential policy tightening.