Nvidia stock hits record highs as U.S. export licenses unlock access to China’s $50B AI market. Click here to read an analysis of NVDA stock now.

The Dow Jones index dropped Thursday ahead of jobless claims and retail sales. Nvidia chipmaker TSMC jumped on earnings.

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Nvidia stock spiked on Tuesday. The AI chip titan said it had received assurances from the administration that it can resume sales of key AI chips to China.

One analyst boosted his price target on Nvidia’s stock to a level that would imply a $5.7 trillion market cap, with the chip maker seemingly cleared to sell its H20 chip in China again.

Nvidia's recent jump isn't surprising, as the stock's dip earlier in the year didn't seem justified considering the outstanding growth it has been consistently clocking on account of the terrific demand for its artificial intelligence (AI) chips.

Nvidia took a $4.5 billion write-off in its latest quarter on unsold H20 chips that it was unable to repurpose for other markets. If sales of these high-volume chips to China resume, a reversal of this write-off could boost earnings.

Nvidia said it has filed applications to resume selling H20 GPUs in China and has received assurances that licenses will be granted.

Nebius stock has soared impressively this year, and its rise seems justified considering its outstanding growth and solid prospects. Goldman Sachs believes that the stock remains undervalued when its growth potential is taken into account.

Indian retail investors ramped up US stock purchases amid global market volatility, with a strong tilt toward semiconductors, healthcare, AI, and small-cap ETFs. There was also a shift toward long-term,