STORY: Shares of Nvidia fell as much as five percent Monday morning after the U.S. government said it would further restrict exports of artificial intelligence chips.The new regulations are aimed at keeping advanced computing power in the United States and among its allies while finding more ways to block China's access.

The company is making an explicit appeal to the president-elect to reject tighter controls on the export of artificial-intelligence hardware.

Just a week to Trump’s inauguration the Biden administration is still making policies. The outgoing administration updated the export rule, which is designed to regulate the flow of AI to “adversaries” like China.