Nvidia stock was falling in Thursday’s premarket after an historic rally following President Donald Trump’s decision to pause the majority of his planned tariffs. The chip maker might get a further boost in regard to its exports to China.

Nvidia shares were down 4% at $109.58 in morning trading.

The stock rose 19% during Wednesday’s session, after President Donald Trump announced a 90-day pause on reciprocal tariffs except for China, while keeping the baseline 10% rate on all imports to the U.S. in place

That surge increased the chip maker’s value by $439.9 billion, the biggest one-day market-cap gain for any company on record, according to Dow Jones Market Data.

Nvidia isn’t totally in the clear from tariff drama yet. Trump has previously said he intends to place additional “sectoral” tariffs specifically on semiconductors. Meanwhile, China could retaliate further as it now faces 125% tariffs from the U.S. 

However, there appears to be some good news for Nvidia. The White House has paused plans to put additional restrictions on its sales of H20 artificial-intelligence chips after Nvidia CEO Jensen Huang attended a dinner hosted by Trump and promised more investment in U.S.-based AI data centers, NPR reported Wednesday, citing people with knowledge of the situation.

Nvidia’s H20 chips are specifically designed to meet existing U.S. sanctions on exports to China. Nvidia declined to comment on the NPR report.

Among other chip makers, Advanced Micro Devices was down 4.3% and Broadcom was down 4.5% in premarket trading.