Overview

• Nvidia's market capitalization surpassed $3 trillion for the first time since February, driven by a 6.4% stock surge on May 13.
• The Trump administration temporarily cut tariffs on Chinese imports from 145% to 30% for 90 days, signaling a partial de-escalation of trade tensions.
• Nvidia announced a deal to supply chips to Saudi Arabia’s Humain for a large-scale AI data center buildout, bolstering its global diversification strategy.
• A Bloomberg report suggested the UAE may soon purchase over a million Nvidia chips, potentially expanding its market reach outside of China.
• Despite these gains, Nvidia faces challenges from a U.S. export ban on its H20 chips to China and emerging competition from Huawei's AI chips.