Nvidia stock rose modestly early Friday as investors digested a raft of mixed news over the past few days. Shares were up 0.1% to $147.34 in premarket trading. It closed almost flat Thursday after starting the day in the red as a fresh outlook from supplier SK Hynix cast doubt over future demand for its products.

On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."

As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged.

Chipmaker Nvidia (NASDAQ:NVDA) is at the forefront of all things AI these days. Its chips are used to help power the AI revolution. Many quantum computing stocks exploded in value last year as investors hoped to get ahead of the crowd in what could be a transformational wave of new technology.

President Trump announced a major AI infrastructure investment of “at least $500 billion,” signaling a willingness to work alongside large tech companies.