Jakub Porzycki | Nurphoto | Getty Images
Nvidia on Wednesday climbed into positive territory for the year, becoming the latest “Magnificent 7” member stock to flip into the green amid the broader market’s recovery.
The artificial intelligence darling surged more than 4% in the session, bringing its gain for this week above 15%. That rally has pulled the stock up about 0.7% year to date.
Nvidia in 2025
Nvidia’s surge above its 2025 flatline comes after CEO Jensen Huang announced Tuesday that the company would sell more than 18,000 of its top AI chips to Saudi Arabia. Huang joined other technology executives and President Donald Trump on a trip to a Saudi-U.S. investment forum held in Riyadh.
Multiple Wall Street analysts told clients that the deal between Saudi Arabia and the U.S. could help the company alleviate any hit from shipping constraints on goods going to China.
“We believe the sale of thousands of … chips to Saudi Arabia this year could help mitigate some of the estimated low-teens billions of dollars in revenue headwinds tied to the China restrictions,” Rosenblatt analyst Kevin Cassidy wrote.
Latest ‘Mag 7’ stock turns positive for year
With Wednesday’s jump, the well-known technology giant joined fellow “Magnificent Seven” members Meta Platforms and and Microsoft in trading above breakeven for the year. Meta and Microsoft have risen more than 12% and 7%, respectively, in 2025.
This recovery has pushed Nvidia’s market cap back above $3 trillion. However, the stock is still more than 13% off its 52-week high notched in January.
Mag 7 stocks this year
| Ticker | Stock | Year-to-date performance (%) |
|---|---|---|
| META | Meta Platforms | 12.7 |
| MSFT | Microsoft | 7.2 |
| NVDA | Nvidia | 0.7 |
| AMZN | Amazon | -4.2 |
| GOOGL | Alphabet | -12.8 |
| TSLA | Tesla | -13.4 |
| AAPL | Apple | -15.6 |
Source: FactSet
Nvidia has become a retail investor favorite amid two years of monster gains as the AI craze took the market by storm. Following that big run, traders questioned this year if the trade tied to this technology was losing steam.
Concerns about slowing AI spending, coupled with ballooning Magnificent 7 valuations, caused the group to start to roll over in February.
Nvidia shares then took another beating early last month as market participants worried that Trump’s initial plan for reciprocal tariffs on China would hurt the company given its high manufacturing exposure in the country. But those levies were temporarily slashed in a key trade deal announced between the two countries on Monday which raised hopes that a trade war can be avoided.
These moves come as the broader market also clawed back losses. The S&P 500 traded into the green on Tuesday and added to that gain a bit Wednesday, a stunning reversal after the benchmark index at one point this year fell into bear market territory on an intraday basis.
To be sure, other megacap tech names continued to drag on the market. Apple and Tesla have tumbled more than 15% and 13%, respectively, year to date. Alphabet is also in the red for the year on lingering concerns AI could be ruining its golden search business.
