Nvidia stock was rising Friday, putting the chip maker on course for another record.

Nvidia stock has gained 1% to $194.59 Friday morning, having closed at an all-time high of $192.57 on Thursday.

The stock appeared to be shrugging off a report that China was stepping up its effort to prevent imports of U.S. semiconductors. Customs officers have been carrying out stringent checks on chip shipments at major ports over the past few weeks, according to the Financial Times, which cited three people familiar with the matter.

Nvidia declined to comment when reached by Barron's.

The Senate also passed legislation on Thursday that would give U.S. companies priority access to advanced chips, ahead of their Chinese rivals.

That could be one factor driving shares higher on Friday. If Nvidia can end the session in the green, it will have been a solid week for the chip maker -- even though it dropped on Monday after rival Advanced Micro Devices announced a long-term deal with OpenAI.

One factor driving the stock higher has been the news that Nvidia is helping to fund xAI, the AI start-up led by Tesla CEO Elon Musk. It also got a boost on Thursday, when Taiwan Semiconductor Manufacturing reported a surge in revenue, which helped underline the continuing strength of the AI trade.