The U.S. has revamped Biden-era rules on artificial-intelligence chips, scrapping an unpopular measure in a move that could benefit major players like Nvidia.The Department of Commerce said in a statement Tuesday that it is rescinding the “AI Diffusion Rule” on the grounds that it would have stifled American innovation,

The Trump administration plans to overhaul regulations on the export of semiconductors used in artificial intelligence, tossing out a Biden-era approach that had drawn strenuous objections from US allies and companies including Nvidia Corp.

U.S. chip maker Nvidia will partner with Saudi Arabia’s sovereign wealth fund-owned AI startup Humain and will ship 18,000 chips to the Middle Eastern nation to help power a new data center project.

Three Saudi F-15 fighter jets appeared along each side of the presidential aircraft, cruising in close proximity for about the last half hour of the flight until Trump landed at King Khalid Internatio...