Nvidia reclaimed its post as the world’s most valuable company after the AI chip king delivered a “great” earnings report despite a “hurdle” from export restrictions to China.

U.S. stocks ended higher on Thursday as shares of Nvidia gained after its quarterly results, while investors digested a late-afternoon court ruling that reinstated the most sweeping of President Donald Trump's tariffs.

Stocks closed modestly higher, pulled up by Nvidia’s earnings, while bond yields fell. Investors are losing some of their jumpiness over tariff uncertainty. A rally that started early in the day sparked by a court decision invalidating most of the Trump administration’s tariffs ran out of steam late in the day,

The AI chip maker’s shares rose more than 5% after hours as quarterly revenue surged to a record $44 billion.

WSJ’s Dan Gallagher explains how Nvidia’s quarterly revenue surged to a record $44 billion, despite its inability to ship $2.5 billion of chips due to Chinese market restrictions. Photo Illustration:

Chinese tech giants are tearing themselves away from Nvidia after being backed into a corner by the White House.

Nvidia reported its fiscal first-quarter results after Wednesday’s closing bell. Investors are focused on the company's ability to withstand restrictions on its China business, as well as Nvidia’s overall trajectory with its new Blackwell lineup.

US stocks ended higher despite tariff uncertainty. An appeals court reinstated Trump's tariffs for now. Strong Nvidia results lent stocks support.

Nvidia shares jumped on Thursday (May 29) after the chipmaker reported higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of U.S. export restrictions on China.