Two U.S. Congress members are calling on President Donald Trump's administration to consider restricting the export of artificial intelligence chips made by Nvidia , alleging Chinese AI firm DeepSeek has relied on them.

American AI stocks got sucker punched after China's DeepSeek app reportedly showed advancements against rivals sending investors into sell mode, shaving 3% off the Nasdaq.

Trump administration officials are exploring additional curbs on the sale of Nvidia Corp. chips to China, according to people familiar with the matter, who emphasized that conversations are in very early stages as the new team works through policy priorities.

The Trump administration is reportedly considering expanding the bans and sanctions against China, which could mean that the Nvidia H20 chip will no longer be legal to sell in the country.