NVIDIA shares surged 2-3% on May 11. The stock reached a new 52-week high of $222.18. China’s Foreign Ministry announced a U.S. presidential state visit for May 13-15. Investors expect this meeting to signal a potential easing of AI chip export restrictions. NVIDIA currently excludes China data center compute revenue from its financial guidance.
The stock outperformed broader market indices ahead of its May 20 earnings report. Hyperscalers including Microsoft, Amazon, Alphabet, and Meta plan massive capital expenditures. These companies are projected to spend $725 billion on data center buildouts in 2026.