Nvidia (NAS100:NVDA) has soared to secure a strong recovery from its April lows, but the company’s CEO is drawing the attention of US Senators over a China trip.
The price of NVDA stock has surged to new highs above $152.75 with a move to $164.92. The support level is now defined, and traders can look to buy dips if the news flow remains positive for stocks.
US Senators Elizabeth Warren and Jim Banks have warned that Jensen Huang’s upcoming trip could undermine American export controls and support companies working with the Chinese military.
In a letter to Huang, the pair asked Huang to avoid discussions with representatives of companies that are collaborating with the Chinese military, or those that are named on the US restricted export list.
“We are worried that your trip to the PRC could legitimize companies that cooperate closely with the Chinese military or involve discussing exploitable gaps in the US export controls,” the Senators wrote.
“We hope you will agree that it would be deeply irresponsible for an American CEO to meet with companies that violate US law and are actively developing military capabilities that could undermine US national security”.
Nvidia is currently the world’s most valuable company, and Huang is set to meet with senior Chinese officials, including the country’s commerce minister. According to Bloomberg’s Billionaires Index, Huang has added more than $29 billion to his wealth since the beginning of 2025, bringing his net worth to $143 billion. That puts him on a par with legendary investor Warren Buffett.
Nvidia has become the first ever company to hit a market cap of $4 trillion last week. The company has recovered strongly from the April market wobble after the company opened up some new revenue opportunities with multibillion-dollar deals signed in the Middle East.
The tech rally continues to churn higher, and buying the strongest on dips may be the best trading strategy until the news cycle changes.
