Chinese AI stocks experience a decline amid reports of potential US restrictions on chip exports.

U.S. chip makers, including Nvidia, could be affected by these potential curbs, expected to be implemented in July.

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The decline in China's CSI artificial intelligence index by 3% triggered a drop in the shares of companies such as Inspur Electronic Information Industry and Chengdu Information Technology.

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Alibaba's Hong Kong-listed shares dropped approximately 1.6% after the news, and Tencent also experienced a decline of 1.58%.

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The U.S. has expressed concerns about China's progress in AI technology, leading to the proposed restrictions on chip shipments.

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The U.S. Commerce Department may prevent the shipment of chips by Nvidia and other chip makers to China and other countries of concern without obtaining a license.

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Previous efforts by the U.S. aimed to limit China's access to advanced chip technology, including implementing rules to cut off China from advanced chip equipment.

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Beijing banned Chinese operators of critical information infrastructure from purchasing Micron Technology products due to perceived security risks.

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The U.S. reportedly urged South Korea not to allow domestic chip makers to fill the gap left by Micron in China.

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Nvidia and AMD have already faced restrictions since September, preventing them from selling advanced chips to China and Hong Kong.

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