Nvidia shares dip; mostly recovered from Trump tariff slump

** Shares of Nvidia NVDA.O down 0.4% on Monday in relatively quiet trading following a whipsaw slump and rebound caused by President Donald Trump's on-again off-again global tariffs and trade war with China

** Even with its latest dip, NVDA has mostly recovered from a drop of almost 22% to its intraday low on April 7, just before Trump hit pause on hefty tariffs he had just imposed on dozens of countries

** On Monday, NVDA said it plans to build AI servers worth up to $500 billion in U.S. over next 4 years

** Move aligns NVDA with tech firms backing U.S. manufacturing amid tariff threats from Trump admin

** NVDA's stock down 18% YTD, underperforming Nasdaq .IXIC, which is down 13%

** NVDA stock about 28% below 52-week intraday high of $153.13 reached on January 7

** Stock recently at 23x expected earnings, suggests undervaluation vs avg forward PE of 40 over past 5 years, per LSEG data