NVIDIA Corporation NVDA shares are trading higher Tuesday. The stock may be moving on continued momentum after the U.S. and China on Monday agreed to a reduction in most tariffs on each other’s goods.
What To Know: The deal will lower U.S. tariffs on Chinese imports from 145% to 30% and Chinese levies on U.S. goods from 125% to 10% for a three-month period.
The revised U.S. tariffs consist of a 10% base rate on all imports, plus an additional 20% tariff implemented earlier this year by President Donald Trump in response to claims that China is manufacturing chemicals associated with fentanyl.
On the U.S. side, the talks were led by Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent, while Vice Premier He Lifeng led the discussions for China.
Bessent said at a news conference that, “We concluded that we have shared interests, and we both have an interest in balanced trade.”
What Else: NVIDIA announced a strategic partnership with HUMAIN on Tuesday aimed at establishing Saudi Arabia as a leader in artificial intelligence (AI) and GPU cloud computing.
As part of its plan to build AI factories in Saudi Arabia, HUMAIN will deploy an 18,000-unit NVIDIA GB300 Grace Blackwell AI supercomputer powered by NVIDIA InfiniBand networking.
HUMAIN also plans to use the NVIDIA Omniverse platform as a multi-tenant system to support development in AI and robotics.
Nvidia is also set to report first-quarter earnings on May 28 after the market closes. Analysts estimate earnings per share of 89 cents and revenue of $43.07 billion, per data from Benzinga Pro.
See Also: Is Cheesecake Factory Gaining or Losing Market Support?
NVDA Price Action: At the time of writing, NVIDIA stock is trading 5.56% higher at $129.84, according to data from Benzinga Pro.
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