Nvidia and AMD Rise on Report Biden Will Further Restrict China Exports

Shares of semiconductor makers rose Tuesday on a report that said the U.S. was planning new restrictions on exporting cutting-edge semiconductors to China, stepping up efforts to prevent the second-largest economy from manufacturing the latest circuitry.

Nvidia

(ticker: NVDA) climbed 3%,

Broadcom

(AVGO) was up 1.8%,

Advanced Micro Devices

(

AMD

) advanced 2.7%, and

Intel

(INTC) rose 2.2%. The new export curbs would potentially limit competition from abroad for these firms, but may also hit sales.