Two U.S. Congress members 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 Trump administration is reportedly considering expanding the bans and sanctions against China, which could mean that the Nvidia H20 chip will no longer be legal to sell in the country.