According to a recent press release, U.S. Citizenship and Immigration Services has received a "sufficient number" of H-1B visa applications to reach the upper limit mandated by Congress. For context, U.S. businesses use the H-1B program to import foreign workers who take jobs in America's specialty occupations.
For the upcoming fiscal year, Congress set the regular H-1B visa cap at 65,000 visas, with an exemption allowing for an additional 20,000 H-1B visas for foreign nationals with advanced degrees - known as the "master's cap."
However, USCIS added that they will continue to process petitions "otherwise exempt from the cap." The agency added,
Petitions filed for current H-1B workers who have been counted previously against the cap, and who still retain their cap number, are exempt from the FY 2023 H-1B cap. We will continue to accept and process petitions filed to:
Extend the amount of time a current H-1B worker may remain in the United States;
Change the terms of employment for current H-1B workers;
Allow current H-1B workers to change employers; and
Allow current H-1B workers to work concurrently in additional H-1B positions.
You can read the full release here.