The vast majority of the world could face limits on the total computing power that can go to one country.

The Biden administration is now preparing new restrictions to bar the export of AI chips, such as those made by Nvidia Corp. The move, which came just days before President Joe Biden leaves office, is another piece of a larger strategy to control who gets to develop and use cutting-edge AI.

The Biden administration is preparing a final round of export restrictions on advanced artificial intelligence (AI) chips, marking a last-minute effort to limit China and Russia’s access to cutting-edge technologies,