On Wednesday, U.S. President Donald Trump’s decision to delay auto tariffs for a month sparked a ripple effect, lifting semiconductor giant Nvidia’s stock by 1.13% to close at $117.30 on the New York Stock Exchange.
While no specific developments directly related to Nvidia, the company’s stock appeared to ride the wave of optimism that swept through Wall Street. The Trump administration’s postponement of auto tariffs propelled all three major U.S. stock indices up by more than 1%, with Nvidia following suit.
This uptick follows recent concerns surrounding Nvidia. The company’s stock had been on a downward trend following reports that China was smuggling Nvidia’s cutting-edge AI chip, Blackwell. This raised fears of tighter U.S. export restrictions on the tech giant’s products to China.
Despite its gains, Nvidia’s stock has taken a significant hit over the past week, plummeting 10.56% in the last five trading sessions.