BUZZ-Semiconductor, cloud service provider stocks fall as US expands AI tech export curbs

Updates

Shares of chip companies Nvidia NVDA.O, Advanced Micro Devices AMD.O, Intel INTC.O and Marvell Technology MRVL.O down between 0.9% and 4.1%

U.S. government says it would issue a new regulation designed to control access to U.S.-designed artificial intelligence chips and technology by other countries - curbs will take effect 120 days from publication

Shares of cloud service companies Microsoft MSFT.O, Amazon.com AMZN.O, Oracle ORCL.N and Alphabet GOOGL.O were down between 0.3% and 2%

U.S. will expand restrictions on advanced GPUs needed to build the data center clusters used to train advanced AI models, divides countries into three tiers

Cloud service vendors will be able to seek global authorizations to build data centers, but will have to abide by stringent conditions and restrictions

These firms will be allowed to deploy only 50% of their total AI computing power outside the U.S., no more than 25% outside of the tier 1 countries, and no more than 7% in a single non-tier 1 country

Chip-making equipment supplier stocks - Lam Research LRCX.O, Applied Materials AMAT.O and Analog Devices ADI.O - down between 1.4% and 2.4%

(Reporting by Akash Sriram in Bengaluru)

((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))