Nvidia stock reversed course Thursday after rallying earlier this week on the back of President Trump’s announcements on artificial intelligence. Investors had been worried about a slow rollout of the company’s advanced Blackwell chips but a flagship $500 billion AI plan is soothing those fears.

As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged.

Nvidia stock jumped Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project called Stargate. The project will be funded by Oracle,

Nvidia stock rose early Friday as investors digested a raft of mixed news over the past few days. Shares were up 0.2% to $147.54 in early trading. It closed almost flat Thursday after starting the day in the red as a fresh outlook from supplier SK Hynix cast doubt over future demand for its products.

Will Nvidia become part of the “Trump trade?” Melius Research says the new Stargate joint venture may signal more AI-friendly moves ahead and help the company’s long-term growth.

Nvidia stock surged after the chipmaker was named a technology partner for a massive U.S. AI infrastructure project called Stargate.