US stock futures were rising sharply Thursday after a federal trade court ruled the Trump administration didn't have the authority to impose tariffs on virtually every country. Better-than-expected quarterly earnings from Nvidia also lifted tech stocks, particularly shares of chip makers.

These stocks were poised to make moves Thursday:

Nvidia, the leading maker of artificial-intelligence chips, was up 5.6% in premarket trading after posting first-quarter adjusted earnings that topped Wall Street forecasts as revenue soared 69% to $44.1 billion. Data-center revenue jumped 73%. Nvidia said it expects revenue in the current second quarter of $45 billion versus estimates of $45.9 billion. The guidance includes a hit of $8 billion from chip export restrictions to China.

"Countries around the world are recognizing AI as essential infrastructure -- just like electricity and the internet -- and Nvidia stands at the center of this profound transformation," said Nvidia CEO Jensen Huang.

Fellow chip stocks traded higher following Nvidia's strong report. Broadcom gained 3.5%, AMD was up 3.4%, and U.S.-listed shares of Arm Holdings rose 3.8%.

Tesla gained 2.8% after CEO Elon Musk announced he would be ending his work for the Trump administration -- he led the government's Department of Government Efficiency -- to spend more time on his companies.

C3.ai, the artificial-intelligence software company, posted a fiscal fourth-quarter loss that was narrower than expected on sales of $108.7 million, which beat expectations of $107.8 million. The stock was rising 17.7%.

Salesforce was up 1.8% after the cloud software company reported first-quarter adjusted earnings and revenue that topped analysts' expectations. The company also issued strong second-quarter guidance and raised its fiscal 2026 outlook.

HP Inc fell 7.8% after personal computer company reduced its fiscal-year outlook as the broader economic environment puts pressure on costs and demand. HP said it expects adjusted earnings of between $3 and $3.30 a share, below its previous guidance of $3.45 to $3.75 a share. The new outlook also was below analysts' estimates of $3.56 a share. "We think that given the macro uncertainty that has been driven by the new trade situation, there is going to be an impact on demand," Chief Executive Officer Enrique Lores told Barron's.

Cybersecurity company SentinelOne was down 13.3% after first-quarter earnings and revenue met Wall Street estimates but revenue guidance for second quarter was below expectations.

Synopsys, the semiconductor design software provider, reported fiscal second-quarter adjusted earnings that were better than expected. The company said it anticipates third-quarter adjusted earnings below consensus but raised its fiscal-year adjusted earnings forecast to $15.11 to $15.19 a share.

Meanwhile, the Financial Times reported the Trump administration told U.S. companies that offer software used to design chips, like Synopsys and Cadence Design Systems, to stop selling to China. Synopsys said it hasn't received a notice from the Bureau of Industry and Security, an agency of the Department of Commerce. The stock rose 4.8% in premarket trading. Cadence Design Systems was up 5.2% after tumbling 11% following the publication of the report late Wednesday.

Veeva Systems' first-quarter adjusted profit beat analysts' forecasts and the cloud-solutions company issued second quarter and fiscal-year earnings guidance that was better than consensus. Shares jumped 16.2%.

Agilent Technologies, the life sciences company, was rising 5.5% after posting better-than-expected fiscal second-quarter earnings and raising its fiscal-year revenue guidance.

Shares of e.l.f. Beauty rose 8.6% after the cosmetics company said it wouldn't be providing a fiscal 2026 outlook "due to the wide range of potential outcomes related to tariffs." Fiscal fourth-quarter earnings and revenue beat analysts' forecasts. The company also said it would be acquiring Rhode, a skincare brand founded by model Hailey Bieber, for $1 billion.

Earnings reports are expected Thursday from Costco Wholesale, Dell Technologies, Marvell Technology, Zscaler, NetApp, Ulta Beauty, Best Buy, Gap, UiPath, American Eagle Outfitters, and Kohl's.