Jensen Huang does not hide his frustration with U.S. chip policies. On Nvidia’s latest earnings call, the CEO said the $50 billion market for AI chips in China is now “effectively closed to U.S. industry.

Nvidia ( NVDA) stock dropped as much as 2% Friday morning after US President Trump claimed that China had “totally violated” an agreement with the US. The tech-heavy Nasdaq ( ^IXIC) fell 0.3%, while the S&P 500 ( ^GSPC) was down just 0.1% late Friday morning.

Is Nvidia's explosive growth worth the premium, or does Alphabet offer smarter value? Get the facts on these top AI stocks before you invest.

Nvidia is worth $3.4 trillion, give or take. And it just released Q1 results. When we look at the trading activity over the past year, we see a lot of sideways chop. But the stock really needs to clear old resistance around $150-152 before we get excited about a fresh, major leg up.

Read Investopedia's live updates on the AI chip giant's quarterly results, as well as the market reaction and comments from CEO Jensen Huang during the conference call with analysts.

The AI chip maker briefly surpassed Microsoft to become the world's most valuable company but looks set to slip back Friday.

Per recent reports, Oracle is planning to purchase an estimated 400,000 graphics processing units (GPU) from Nvidia for OpenAI's new data center in Texas. Of note, the GPUs are Nvidia's new Blackwell architecture and could cost Oracle up to $40 billion.

FY26 showcases impressive growth, driven by Jensen Huang's visionary leadership. Click for my updated look at NVDA's latest earnings.