Nvidia rises as Trump pauses tariffs and reverses export controls
Shares of AI chip firm Nvidia NVDA.O rise 13.1% to $109.02 after U.S. President Donald Trump authorized a 90-day pause on tariffs, effective immediately
NPR also reported on Wednesday the Trump administration has reversed course on plans to restrict exports of NVDA's H20 artificial intelligence chips to China after CEO Jensen Huang attended a Mar-a-Lago dinner last week
The change in plans came after Nvidia promised the Trump administration new U.S. investments in AI data centres according to the report
The planned U.S. export controls on the most advanced AI chips legally available in China had been in the works for months and were ready to be implemented this week, NPR reported, citing two sources
Up to the last close, NVDA has fallen 24.7% YTD
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