US Commerce Secretary Lutnick says US demand is vast for AI chips, and “we don’t want to do anything to stand in their way”

• Refrained to give an answer on if he would curb China's chip licenses to prioritise the US.

This statement emphasizes the US government's prioritization of AI chip demand, which suggests a conducive environment for growth in that sector. The lack of commitment to restrict China's chip licenses indicates a complex balancing act between fostering domestic industry and international relations, which could lead to increased volatility in tech stocks and chip manufacturers as market participants weigh potential regulatory impacts.