Nvidia stock rose early Friday as investors digested a raft of mixed news over the past few days. Shares were up 0.2% to $147.54 in early trading. It closed almost flat Thursday after starting the day in the red as a fresh outlook from supplier SK Hynix cast doubt over future demand for its products.

Nvidia remained above the 50-day moving average Friday. Late Tuesday, President Donald Trump announced a joint venture called Stargate involving OpenAI, Oracle, SoftBank and other companies that will invest up to $500 billion in four years to build data centers and other infrastructure for AI applications.

As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged.

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,

Shares of Nvidia (NASDAQ: NVDA) and Vistra (NYSE: VST) have surged 860% and 700%, respectively, since the beginning of 2023. Both companies have benefited from the artificial intelligence (AI) boom despite operating in very different parts of the economy. Tepper sold 65,000 shares of Nvidia, reducing his position by 9%.

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