Taiwan Semiconductor Manufacturing reported a 57% rise in profit on strong demand for hardware to power AI systems.

Nvidia faces a significant revenue threat due to the latest U.S. export restrictions on artificial intelligence chips, designed to limit the global distribution of these coveted processors, analysts and investors said.

The Biden administration’s latest bid to curb China’s access to the most advanced AI models and AI chips could have a major impact on the AI boom and its enablers, most prominently chip giant Nvidia.