BUZZ-Nvidia jumps on report of US mulling looser curbs on chip export to UAE

Reuters
05-02
BUZZ-Nvidia jumps on report of US mulling looser curbs on chip export to UAE

** Shares of AI chip leader Nvidia NVDA.O rise 4% to $113.30

** U.S. is weighing a potential easing of restrictions on Nvidia sales to the United Arab Emirates, Bloomberg News reports

** President Donald Trump could announce the start of work on a bilateral chip deal during his upcoming trip to UAE - Bloomberg News

** AI stocks also benefiting from upbeat Microsoft MSFT.O earnings, easing some investor jitters around hefty AI spending

** Analysts' average rating on the stock is "buy"; their median PT is $168.00

** NVDA down ~15% YTD

(Reporting by Arsheeya Bajwa in Bengaluru)

((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))

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