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 jumped Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project called Stargate. The project will be funded by Oracle,

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

Amid investor concerns, the Stargate project significantly boosted Nvidia’s future prospects. President Donald Trump’s announcement of Stargate has positioned Nvidia to benefit significantly from a $500 billion investment aimed at building advanced AI infrastructure in the U.S. over the next four years.

Nvidia stock was sliding on Thursday as a business partner’s weak outlook took some of the shine off President Trump’s artificial intelligence announcements. Shares were down 1.8% to $144.50 in premarket trading.

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