By Adam Clark
Nvidia stock was headed toward another all-time high on Friday. A new artificial-intelligence model from OpenAI and the potential for increased spending from Tesla look set to keep the rally in shares going.
Nvidia shares were up 0.8% at $182.12 in Friday trading. Any move higher would represent a new high after the stock closed Thursday at a record.
The company got a boost this week despite President Donald Trump's proposed 100% tariff on chip imports. That's because there appear to be widespread exemptions for companies like Nvidia that make semiconductors in the U.S.
There appear to be few obstacles to strong investment in AI technology. OpenAI launched GPT-5 on Thursday, the latest model to power the popular ChatGPT. OpenAI CEO Sam Altman named Nvidia as one of the key partners for the technology, and it was the only pure-play chip company mentioned.
Nvidia could also be set to receive more cash from Tesla, which is slimming down its internal chip lineup. The electric-vehicle maker is disbanding its Dojo supercomputing team and associated in-house AI training chips, and will rely more on hardware from Nvidia and Advanced Micro Devices, Bloomberg reported, citing people familiar with the matter.
"It doesn't make sense for Tesla to divide its resources and scale two quite different AI chip designs," Tesla CEO Elon Musk said in a post on social-media site X late on Thursday.
Musk said Tesla's focus will be on its AI5 and AI6 chips that specialize in inference -- producing output from AI models -- rather than training, where Nvidia's hardware is dominant. Tesla didn't immediately respond to a request for comment early on Friday.
Among other chip makers, Advanced Micro Devices was rising 1.1% and Broadcom was up 0.8% in morning trading.
Write to Adam Clark at adam.clark@barrons.com
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August 08, 2025 10:20 ET (14:20 GMT)
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