New York, Feb 10, 2026, 07:39 EST — Premarket
- Nvidia gained roughly 2.4% ahead of the open, as chip stocks mounted a wider comeback.
- According to the report, the U.S. could leave Big Tech out of the next round of chip tariffs targeting AI data centers.
- Investors have their attention on U.S. jobs numbers and inflation figures this week, with Nvidia earnings due Feb. 25.
Nvidia (NVDA.O) jumped 2.4% before the bell on Tuesday, trading at $190.04. Traders were reacting to a report suggesting the Trump administration could make an exception on upcoming chip tariffs for big U.S. tech firms that purchase semiconductors for AI data centers. 1
Tariff risk and the rising costs tied to building artificial intelligence systems are now core pressures for mega-cap tech and their chip suppliers. Alphabet, for its part, just tapped the market for $20 billion in bonds—underscoring how Big Tech is still pouring money into data centers and the hardware that powers them. 2
A new tariff exemption would drop just as Washington’s latest chip duties are still rippling through the sector, targeting AI semiconductors and leaving investors to figure out who eats the cost—suppliers, cloud providers, or end users. 3
The Financial Times says the administration is looking to exempt companies such as Amazon, Google, and Microsoft from new chip tariffs, aiming to support their AI data center projects. Those exemptions would hinge on Taiwan Semiconductor Manufacturing Co’s investment pledges stateside. The deal isn’t final yet—it’s still under negotiation, according to the report. 4
Fresh headlines underscored steady appetite for Nvidia gear. Apollo Global Management is nearing a deal for a $3.4 billion loan to a vehicle set up to acquire Nvidia chips and lease them out to Elon Musk’s xAI, Reuters said, citing The Information. The arrangement takes the form of a “triple-net” lease, meaning the user shoulders most recurring expenses, and Nvidia itself would act as a cornerstone investor. 5
Cisco isn’t waiting around. On Tuesday, the company rolled out a data-center networking chip and router, aiming directly at rivals Broadcom and Nvidia as the AI race heats up. The chip is slated to hit the market in the second half of the year. “We focus on the total end-to-end efficiency of the network,” said Martin Lund, executive vice president at Cisco, speaking to Reuters. 6
Nvidia climbed 2.5% in Monday’s regular session, putting the most upward pressure on the S&P 500. The Philadelphia SE Semiconductor index followed with a 1.4% gain. 7
Macro numbers might still shake things up. White House economic adviser Kevin Hassett cautioned that investors “should expect slightly smaller job numbers,” adding there’s no reason to panic if the figures land below past cycles. He chalks it up to a cooler pace in population growth and better productivity. 8
January’s consumer inflation numbers from the U.S. Labor Department land on Friday, Feb. 13, with the release set for 8:30 a.m. EST, per the Bureau of Labor Statistics schedule. 9
Still, plenty could trip this up. The tariff carve-out isn’t set in stone, and tougher chip duties could push AI build costs higher in a hurry. Plus, with networking silicon and custom hardware from competitors coming in, spending that typically goes “Nvidia-adjacent” might get squeezed—even if total budgets keep climbing.
Nvidia’s next big test for investors lands Feb. 25, as the chipmaker posts both its fourth-quarter numbers and full-year 2026 results. 10
