美国将针对英伟达、中国和俄罗斯推出新的人工智能芯片出口限制

拜登政府将推出最后一轮人工智能（AI）芯片出口限制，目标是英伟达等公司。

The Biden administration is preparing to implement a final round of restrictions on the export of artificial intelligence (AI) chips, targeting companies like Nvidia Corp. The move is designed to limit the access of countries such as China and Russia to advanced AI technologies, amid rising concerns over national security and the global spread of AI. This policy shift could have significant implications for global tech dynamics and Nvidia’s position as the world’s leading AI chipmaker.

拜登政府正准备对人工智能（AI）芯片实施最后一轮限制，目标是英伟达公司等公司。此举旨在限制中国和俄罗斯等国家获得先进的人工智能技术。人们对国家安全和人工智能全球传播的担忧日益加剧。这一政策转变可能会对全球科技动态以及英伟达作为全球领先人工智能芯片制造商的地位产生重大影响。

A Three-Tiered System of Restrictions

三级限制体系

According to sources familiar with the matter, the upcoming regulations will introduce a three-tiered system that restricts the flow of AI chips worldwide. The highest tier will include US allies who will have almost unfettered access to American-made chips. Meanwhile, adversarial nations will be effectively blocked from importing these essential components. The majority of countries will face limits on the total computing power of AI chips they can import.

据知情人士透露，即将出台的法规将引入三级制度，限制人工智能芯片在全球范围内的流动。最高层将包括美国的盟友，他们将几乎不受限制地获得美国制造的芯片。与此同时，敌对国家将被有效阻止进口这些重要部件。大多数国家可以进口的人工智能芯片的总计算能力将受到限制。

However, there’s a way out for nations falling into the middle category. By agreeing to US government security protocols and human rights standards, countries could bypass the restrictions and gain higher caps on the AI chips they can acquire. This approach aims to establish a “trusted entity” list for AI development in secure environments.

然而，对于处于中间类别的国家来说，还有一条出路。通过同意美国政府的安全协议和人权标准，各国可以绕过限制并获得更高的人工智能芯片上限。该方法旨在为安全环境中的人工智能开发建立“可信实体”列表。

Nvidia’s Response to Export Restrictions

Nvidia 对出口限制的回应

Nvidia, which has been a leader in providing AI chips for global data centers, has expressed concern about these potential export limitations. The company argues that such a policy shift could harm economic growth and reduce the United States’ competitive edge. In a statement, Nvidia highlighted that accelerating computing, including AI, has already become a part of everyday applications worldwide.

英伟达一直是为全球数据中心提供人工智能芯片的领导者，它对这些潜在的出口限制表示担忧。该公司认为，这种政策转变可能会损害经济增长并降低美国的竞争优势。英伟达在一份声明中强调，包括人工智能在内的加速计算已经成为全球日常应用的一部分。

The semiconductor giant pointed out that restricting the export of chips to most of the world would do little to curb misuse but would instead undermine US leadership in the AI space. Nvidia further contended that the demand for accelerated computing solutions offers a tremendous opportunity for job creation and economic growth in the United States.

这家半导体巨头指出，限制向世界大部分地区出口芯片无助于遏制滥用，反而会削弱美国在人工智能领域的领导地位。英伟达进一步认为，对加速计算解决方案的需求为美国创造就业机会和经济增长提供了巨大的机会。

Impact on Nvidia’s Stock and Market Outlook

对英伟达股票和市场前景的影响

Following news of the impending export restrictions, Nvidia’s stock experienced a slight dip, down by more than 1% in late trading. However, the chipmaker has seen strong performance this year, with shares up 4.3% through the close, building on substantial gains in 2023 and 2024. Despite the current dip, Nvidia remains the world’s most valuable chipmaker, and the global demand for AI technologies continues to surge.

在即将实施出口限制的消息传出后，英伟达股价小幅下跌，尾盘跌幅超过 1%。然而，这家芯片制造商今年表现强劲，股价在 2023 年和 2024 年大幅上涨的基础上，截至收盘上涨 4.3%。尽管目前股价下跌，英伟达仍然是全球最有价值的芯片制造商，全球对人工智能技术的需求持续增长激增。

Shifting the Global Tech Landscape

改变全球科技格局

The Biden administration’s strategy aims to concentrate AI development in countries that align with US standards, which could lead to a reshaping of the global tech landscape. By limiting access to critical semiconductor technologies for certain nations, the US seeks to maintain a technological edge over rival powers. However, the policy could also create new challenges, as countries outside the top tier may seek alternative sources for AI chips or pursue their own chip development programs.

拜登政府的战略旨在将人工智能开发集中在符合美国标准的国家，这可能会重塑全球科技格局。通过限制某些国家获得关键半导体技术，美国寻求保持相对于竞争对手的技术优势。然而，该政策也可能带来新的挑战，因为顶级国家之外的国家可能会寻求人工智能芯片的替代来源或追求自己的芯片开发计划。

As the demand for AI chips continues to escalate across industries—from data centers and cloud services to autonomous vehicles and healthcare—the competition for access to the most advanced technologies is intensifying. The US is positioning itself to lead the way, but the global dynamics of AI chip development may look very different in the years to come.

随着从数据中心和云服务到自动驾驶汽车和医疗保健等各行业对人工智能芯片的需求不断升级，对最先进技术的竞争正在加剧。美国将自己定位为引领者，但未来几年人工智能芯片开发的全球动态可能会大不相同。

While Nvidia stands at the forefront of this technological revolution, the evolving regulatory landscape poses challenges and opportunities that will shape the company’s future growth. The balance between national security, economic interests, and technological innovation will be key in determining how these export restrictions impact Nvidia and the broader AI ecosystem.

虽然英伟达站在这场技术革命的前沿，但不断变化的监管环境带来了挑战和机遇，将塑造公司未来的增长。国家安全、经济利益和技术创新之间的平衡将是决定这些出口限制如何影响英伟达和更广泛的人工智能生态系统的关键。