The Biden administration's new rules to curtail other nations' access to advanced artificial intelligence chips sparked frustration within the industry. The controls, announced Monday, put limits on AI semiconductor exports to 120 countries, including some of Washington's close trading partners. In another development, TikTok has dismissed the report suggesting China might allow the potential sale of the social media company's U.S. operations to billionaire Elon Musk and called it "pure fiction." Watch The World Report for the latest updates.