Two members of U.S. Congress are calling on President Donald Trump's administration to consider restricting the export of artificial intelligence chips made by Nvidia , alleging Chinese AI firm DeepSeek has relied on them.

Nvidia said in a statement it is "ready to work with the administration as it pursues its own approach to AI."

Silicon Valley and Washington leaders said the app shows China can challenge the U.S. The Nasdaq lost 3 percent and chipmaker Nvidia shed $589 billion in market capitalization.

The Chinese start-up DeepSeek’s latest large language model has been described as a ‘Sputnik moment’ for the American tech industry

Export controls need to be tightened after revelations the Chinese company used Nvidia technology, the leaders of a congressional committee said.

Two members of the U.S. Congress, Republican John Moolenaar and Democrat Raja Krishnamoorthi, are urging President Donald Trump's administration to consider placing restrictions on the export of artificial intelligence (AI) chips manufactured by Nvidia (NASDAQ:NVDA).