Microsoft Calls on Trump to Relax AI Chip Export Rules
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We are exclusively reporting that Microsoft is pushing the Trump administration to loosen and simplify export restrictions on cutting-edge AI chips. In a blog post set to be published today, Microsoft will call for the White House to relax the limits on chips that can be used in data centers for training AI models so that they no longer apply to a group of U.S. allies including India, Switzerland, and Israel.

That's according to company officials who say Microsoft believes allies whose access to American chips is limited under the proposed new rules will turn to China to get tech infrastructure they need.

President Trump is revoking a Biden-era license allowing Chevron to produce oil in Venezuela, saying strongman Nicolas Maduro has failed to take in deported migrants and to make democratic reforms. Trump said Chevron's license will be terminated as of March 1st, requiring the company to wind down its Venezuela operations within months.

Chevron spokesman said the company does business in Venezuela in compliance with all laws and regulations, including U.S. sanctions.

And European shares opened lower this morning after President Trump said he's considering 25% tariffs on the European Union. He didn't specify when they would be imposed, though he did say many trade actions would come on April 2nd after the completion of a trade policy review. That comment also raised hopes that levies on Canada and Mexico could be further delayed, though a White House official said a March 4th deadline remains in effect, pending review.

Asian stocks have end-of-the-day mixed, European stocks are mostly lower in midday trading, and U.S. stock futures are slightly higher ahead of earnings from Dell, HP, and Warner Bros. Discovery due out today. And we've got a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

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