Warren Buffett: "“not aware of any such loophole”"

During a Senate confirmation hearing for the position overseeing U.S. export controls on advanced technology, nominee Abby Warren faced questions about reports that Chinese-owned firms had obtained high-end Nvidia and AMD chips before an alleged regulatory gap was closed. Warren, tapped to lead the Commerce Department’s Bureau of Industry and Security, told Senator Jack Reed she was not familiar with any such loophole, but promised if confirmed to examine existing regulations and coordinate with enforcement officials to ensure rigorous compliance. The exchange underscored broader concerns among lawmakers about preventing sensitive semiconductors and AI hardware from reaching China, as the Biden administration continues tightening export restrictions to preserve America’s technological edge. Warren also pledged to adapt controls to evolving technology and work closely with allies.