Nvidia and AMD reportedly push back on proposed China chip restrictions

$NVDA and $AMD have reportedly increased outreach to the White House and Commerce Department as they seek changes to proposed restrictions on advanced AI chip exports to China, according to Politico as cited in the source.
The companies are reportedly focused on measures including the bipartisan AI OVERWATCH Act, which would tighten oversight and licensing requirements for advanced-chip exports to China and other countries of concern, as well as provisions in the Chip Security Act involving tracking of where certain chips ultimately end up.
The proposals remain subject to the legislative process, and the companies' lobbying efforts do not establish what restrictions will ultimately be adopted.