Shares of Nvidia (NASDAQ: NVDA) are surging higher on Friday. The AI chip giant's stock had gained 4% as of 1:50 p.m. ET and was up as much as 5.2% earlier in the day. This comes as the S 500 was up 0.4% and Nasdaq Composite was up 1%.

Shares of the chipmaker were lifted after Morgan Stanley raised its revenue projections for the company as well as the revelation of some positive news in the ongoing trade war with China.

This legendary investment bank updated its 2027 projections for Nvidia. Analyst Joseph Moore is now forecasting total revenue for 2027 of $255.5 billion. That's up from his previous projection of $230.9 billion. He also raised his earnings per share (EPS) projections to $6.01 from $5.37.

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Source Fool.com