The Biden administration announced a sweeping set of export controls on chip-manufacturing equipment, memory, and software that will make it more difficult for companies like Huawei and ByteDance to develop cutting-edge AI.

The United States on Monday launched its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies, including chip equipment maker Naura Technology Group, among other moves.

The updated rules have “two primary objectives,” according to the BIS: slowing China’s advanced AI developments that have “the potential to change the future of warfare” and “impairing” China’s development of its chip ecosystem.