Nvidia stock reversed course Thursday after rallying earlier this week on the back of President Trump’s announcements on artificial intelligence. Investors had been worried about a slow rollout of the company’s advanced Blackwell chips but a flagship $500 billion AI plan is soothing those fears.

President Trump announced a major AI infrastructure investment of “at least $500 billion,” signaling a willingness to work alongside large tech companies.

Nvidia stock surged after the chipmaker was named a technology partner for a massive U.S. AI infrastructure project called Stargate.

Nvidia stock was sliding on Thursday as a business partner’s weak outlook took some of the shine off President Trump’s artificial intelligence announcements. Shares were down 1.8% to $144.50 in premarket trading.