Nvidia stock reversed course Thursday after rallying earlier this week on the back of President Trump’s announcements on artificial intelligence. Investors had been worried about a slow rollout of the company’s advanced Blackwell chips but a flagship $500 billion AI plan is soothing those fears.

Nvidia stock surged after the chipmaker was named a technology partner for a massive U.S. AI infrastructure project called Stargate.

Nvidia stock rose early Wednesday after President Donald Trump sent another signal to markets that artificial intelligence would be a priority under his new administration. The absence of Nvidia CEO Jensen Huang at the inauguration Monday stuck out as Big Tech CEOs thronged to the event.