Nvidia up as US tech stocks ride AI wave

continues to underestimate the scale of the opportunity, and Nvidia remains one of the best ways to play the AI theme.”

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Shares of the Santa Clara, California-based company rose 4.6% after a string of recent announcements solidified its dominance in the Al race.

Huang unveiled $500 billion in AI chip orders on Tuesday and said he plans to build seven supercomputers for the U.S. government.

Meanwhile, United States President Donald Trump is expected to discuss Nvidia's Blackwell chip with Chinese President Xi Jinping during their meeting on Thursday. Sales of the high-end chip have been a key sticking point between the two sides due to Washington's export controls.

Stock surge boosts Huang's wealth

At current prices, CEO Huang’s stake in Nvidia would be worth about $179.2 billion, according to regulatory filings and Reuters calculations. He is the world’s eighth-richest person, per Forbes’ billionaire list.