KEY TAKEAWAYS In its last days in the White House, the Biden administration reportedly is planning new regulations that could be announced as soon as Friday to further limit the export of artificial intelligence (AI) chips by companies like Nvidia.

With an eye on national security, the new approach seeks to protect U.S. technical superiority. Warning that the proposed limits might compromise America's competitive advantage in the global AI race and slow down economic development, Nvidia has rejected them. After the news, after-hours trading saw Nvidia's shares drop almost 1%.

Good morning. Joe Biden takes one final stand to limit AI chip exports. Apple loses its latest plea to keep iPhones in Indonesia. And a late football manager’s cozy lakeside mansion is up for sale. Listen to the day’s top stories.