President-elect Donald Trump is likely to maintain new US limits on global sales of AI chips by Nvidia Corp. and others, a top Biden administration official said, citing bipartisan national security concerns surrounding China’s pursuit of advanced technology.

The latest selloff in Nvidia and other chips stocks could prove short-lived, with the incoming Trump administration likely to take a more relaxed approach to AI controls.

Nvidia is cozying up to the incoming Trump administration after criticizing a new AI framework just announced by the Biden administration. The rules are meant to keep advanced chips and AI models under the control of the United States and its allies, but the President-elect will have the final decision on whether to enforce them.