Nvidia stock rose on Friday after CEO Jensen Huang met with Chinese Commerce Minister Wang Wentao Thursday, in a sign it might deepen ties with China.

At the Beijing Expo, Jensen Huang also announced plans for a new chip for Chinese clients that is designed for robotics and smart factories.

The S&P 500's spring sell-off was fast and unexpected, sparking fear that trade war uncertainty would serve as a catalyst for stagflation or outright recession. As a result, many investors sold top performers, including Nvidia, before a massive post-sell-off run higher.

Gil Luria from D.A. Davidson discusses the national security concerns around the report that U.S. officials are delaying a deal for the UAE's purchase of Nvidia AI chips.

Separately, stock in Dutch chip company ASML was falling sharply Wednesday after the company cut its outlook, blaming trade wars and tariffs for lower demand.

One analyst boosted his price target on Nvidia’s stock to a level that would imply a $5.7 trillion market cap, with the chip maker seemingly cleared to sell its H20 chip in China again.