New York, Feb 10, 2026, 09:45 EST — Regular session
- Nvidia shares moved higher in early trading after reports surfaced that major AI data-center buyers could receive a U.S. tariff exemption.
- TSMC posted higher revenue for January, fueling further optimism across chip stocks.
- U.S. economic numbers out this week, plus Nvidia’s Feb. 25 results, are what traders are looking to for the next big cue.
NVIDIA Corp shares climbed 0.9% to $191.75 early Tuesday, building on their recent rebound. Chip stocks found buyers again following new trade and demand headlines.
The stock’s now a proxy for AI spending trends, with traders swift to adjust its price whenever something shifts the economics or timing for new data centers. Tariffs, those import taxes, are one of the factors they’re watching.
After the recent tech volatility, those nerves are more exposed. Investors are pressing tougher questions: what’s fueling the next wave of AI demand, and which companies are positioned to protect their margins if expenses climb?
The Financial Times said Monday the Trump administration is looking to shield companies like Amazon, Google, and Microsoft from looming chip tariffs related to AI data-center builds. Those carve-outs would run through the Commerce Department. An official told the paper the plans “are in flux” and, according to Reuters, Trump hasn’t signed off yet. 1
Taiwan Semiconductor Manufacturing Co, Nvidia’s top chip supplier, reported January revenue of around NT$401.26 billion—a jump of 19.8% from December and 36.8% higher than the same month last year. 2
Semiconductor stocks saw a lift with Nvidia. AMD added 1.2%, Broadcom climbed 0.9%, and U.S.-listed TSMC shares picked up 2.1% in early trading.
Broader markets grappled with weaker-than-anticipated U.S. retail sales for December, which landed flat and caught some traders off guard. “It’s really the retail sales data that’s come out below expectations … that’s driving some of the weakness,” said Charlie Ripley, vice president of portfolio management at Allianz Investment Management. 3
The AI buildout story hasn’t faded. “The likes of Amazon and Google are spending well in excess of $100 billion per year in capex,” said Rolf Bulk, analyst at Futurum Equities, referring to capital spending. 4
The tariff carve-out remains up in the air, leaving chip stocks vulnerable to policy whiplash yet again. Pressure isn’t limited to semis, either. The broader “AI trade” has stumbled, as software names took a heavy hit and investors grew uneasy about packed trades and whether AI’s payoff justifies the investment boom. 5
The next big date for Nvidia is Feb. 25. That’s when it plans to release Q4 and full-year fiscal 2026 numbers and hold a conference call at 2 p.m. PT. Before the call, CFO Colette Kress will provide written commentary, according to the company. 6
