Nvidia Corp.’s $3 trillion run-up in market value in the two years since ChatGPT helped trigger an AI frenzy is bigger than any stock rally in history in such a short time span. But the landscape is now changing for the chipmaker.

Drops for Nvidia and other superstar stocks are dragging U.S. indexes lower and keeping Wall Street stuck in its weekslong rut. The S&P 500 fell 0.8% early Monday. The index is coming off its fourth losing week in the last five.

Nvidia pushed back on the Biden administration's new executive order relating to overseas sales of advanced AI chips, saying it will undermine U.S. technological leadership.

Just a week to Trump’s inauguration the Biden administration is still making policies. The outgoing administration updated the export rule, which is designed to regulate the flow of AI to “adversaries” like China.

Nvidia (NVDA) on Monday quickly slammed newly released Biden administration rules to regulate chip sales to foreign countries.