The rebound follows a 4.4% slide on Tuesday, when Nvidia was swept up in a broader sell-off driven by rising geopolitical risks.
- Bloomberg reports that Nvidia CEO Jensen Huang is set to visit China later this month and could meet with Beijing officials to push for the resumption of H200 sales in the country.
- NVDA suffered its worst decline in three months on Tuesday.
- Stocktwits sentiment for NVDA shifted to ‘neutral’ as of early Wednesday, from ‘bullish’ the previous day.
Nvidia, Inc.’s shares rose nearly 1% in early premarket trading on Wednesday, rebounding after suffering one of their sharpest declines in recent months a day earlier.
The chip giant’s stock lost 4.4% on Tuesday, its worst drop in over three months, amid a broad market sell-off in response to the rising geopolitical risks tied to the U.S.–Greenland situation.
Bloomberg News reported late Tuesday that Nvidia CEO Jensen Huang plans to visit China later this month as he works to resume exports of the company’s AI chips to the country, amid mixed signals from Washington and Beijing.
Nvidia’s sales in China have now been upset for years amid U.S.-China diplomatic and trade tensions. The Biden administration had banned the export of advanced AI chips to China; President Donald Trump later carried forward the ban to include the H200s, the most powerful processor the company was previously allowed to sell in China, before allowing their sales with a cut to the U.S. government.
Previously, Nvidia had to write down $5.5 billion in inventory earmarked for China.
Beijing, too, has reportedly sent mixed signals about the sale of Nvidia chips in the country, as it seeks to strike a balance between locally designed chips and advanced technology from the U.S.
Huang will be in China to attend company parties ahead of the Lunar New Year holidays, according to Bloomberg’s sources. He is also expected to visit Beijing, though it’s unclear whether he will meet with senior Chinese officials.
U.S. stock futures rose early Wednesday as well, with increased attention on the World Economic Forum in Davos today, where Trump is set to arrive to discuss his plans for Greenland.
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