By George Glover
Nvidia stock was rising early Friday, as President Donald Trump said he was close to landing another deal that would send more American-made artificial-intelligence chips to the Middle East.
Shares climbed 0.7% to $135.77 ahead of the opening bell. Futures tracking the benchmark S&P 500 were up 0.3%.
Trump said Friday that the U.S. and the United Arab Emirates had agreed to create a path that would allow Abu Dhabi to buy advanced American AI chips.
Trade news has powered Nvidia stock higher this week.
Shares have jumped 16% since the U.S. and China brokered a deal to scale back tariffs for 90 days on Monday, and the mega-cap tech company's valuation climbed above $3 trillion for the first time in months after the company agreed to sell artificial-intelligence chips to Saudi Arabia.
Other chip makers were also rising on Friday. Advanced Micro Devices stock rose 1.8%, Broadcom shares ticked up 0.2%, Qualcomm rose 0.3%, and Intel also added 0.5%.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
May 16, 2025 05:37 ET (09:37 GMT)
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