Why Nvidia Stock Jumped Today
Despite initially opening the day's trading in the red, Nvidia (NASDAQ: NVDA) stock wound up posting gains in Tuesday's trading. The artificial intelligence (AI) hardware leader's share price ended the session up 1.7% and had been up as much as 4.6% earlier in the session.
Nvidia stock saw a modest recovery today as investors digested the effects of tariffs and other macroeconomic pressures and geopolitical dynamics that involve the company's chips. The AI leader's share price also got a boost from Taiwan Semiconductor Manufacturing's recent announcement that it will invest $100 billion to expand its U.S. chip-fabrication operations.
Nvidia stock fell 8.7% in yesterday's trading as investors reacted to the impending implementation of new tariffs on Canada and Mexico. Expectations that export restrictions and enforcement initiatives could intensify following new reports that China is gaining access to prohibited Nvidia chips through third-party sellers also added to sell-offs.
Source Fool.com
