Nvidia-linked shares rose on Thursday. Nvidia soared 4%; Applied Digital, CoreWeave up about 9%; SOUN, Recursion Pharma, Nebius up 7%; WeRide up over 5%.

Nvidia Corp. delivered a surprisingly strong revenue forecast and pushed back on the idea that the AI industry is in a bubble, easing concerns that had spread across the tech sector.

The world’s most valuable company expects sales of about $65 billion in the January quarter — roughly $3 billion more than analysts predicted. Nvidia also said that a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated.

Furthermore, White House officials are urging members of Congress to reject a measure that would limit Nvidia Corp.’s ability to sell AI chips to China and other adversary nations, according to people familiar with the matter, dimming prospects for legislation opposed by the world’s most valuable company.

The so-called GAIN AI Act would create a system that requires chipmakers to give Americans first dibs on AI chips that are controlled for export to China and other arms-embargoed countries — an 「America first」 framing designed to appeal to the Trump administration. That would effectively bar Nvidia and Advanced Micro Devices Inc. from selling their best products to the Asian country, making GAIN AI something of a bipartisan congressional pushback to President Donald Trump’s suggestions that he is open to such shipments.

The White House’s stance is a victory for Nvidia, which has publicly lobbied against the legislation, insisting there are no US customers facing a shortage of its products. If GAIN AI doesn’t wind up passing, that would also mark a loss for some American hyperscalers including Microsoft Corp., which supported a measure that would preserve their access to hardware over Chinese rivals, while also clearing an easier path to ship advanced AI chips to US-owned data centers in places like Saudi Arabia and the United Arab Emirates.