Banks proposes changes to chips export bill

A new draft of Sen. Jim Banks’ (R-Ind.) proposal to give American companies first dibs on advanced semiconductors would seek to limit sales of the technology underlying artificial intelligence to countries subject to specific arms embargoes.

It would also make it easier for cloud giants to transfer chips within their global operations.

The changes could help boost the chances Banks’ legislation will make it into the final annual defense policy bill being written by House and Senate negotiators.