By Karen FreifeldJuly 10 (Reuters) – The U.S. loosened export controls on the United Arab Emirates on Friday, making it easier to export Nvidia AI chips, military equipment, commercial satellites and spacecraft in a boost to relations between the two allies.The announcement underscores strengthening U.S.-UAE relations, with the Gulf ally playing an increasingly important role in Washington's strategy toward Iran, while creating revenue opportunities for U.S. companies, particularly tech firms.The UAE government and approved companies will now be able to access advanced computing items license-free, the posting in the Federal Register, the government's official journal, said.UAE companies G42 and Core42…