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Nvidia Stock Slips After Big Tuesday Rally as Huang Confirms Vera Rubin Chip Is Now in Production Today
Shares of Nvidia fell 1.48% on Wednesday, trading at $208.67 as of 11:58 a.m. EDT, down $3.13 on the day, as the stock cooled off following Tuesday’s sharp 4.06% rally, even as Chief Executive Jensen Huang moved to dismiss reports of delays affecting the company’s next-generation Vera Rubin AI chip.
Wednesday’s pullback comes after Nvidia shares surged from $203.53 to $211.80 during Tuesday’s session, a move that pushed the stock up 8.63% over the preceding two weeks and helped Nvidia push back against recent characterizations of the stock as a relative laggard within the broader chip sector rally.
Huang Addresses Vera Rubin Delay Concerns
Huang directly addressed recent supply chain reports suggesting Nvidia’s next-generation Vera Rubin AI accelerator had experienced delays in its volume production ramp due to thermal lid issues affecting server integration. In comments this week, Huang dismissed those delay reports and affirmed that production of the Vera Rubin platform remains on track at what he described as “giant” volumes.
That confirmation carries significant weight for investors given Vera Rubin’s central role in Nvidia’s next generation of AI computing products, with the platform expected to serve as a key growth driver for the company heading into its next major product cycle.
US Opens Door for Additional AI Chip Exports
Adding to Wednesday’s news flow, the U.S. government has opened the door for several major technology companies, including Nvidia, Amazon, Apple and SpaceX’s AI unit, to export AI chips to the United Arab Emirates, according to reports. That development follows a broader pattern of incremental policy shifts around U.S. export controls on advanced AI hardware, an area that has remained a persistent source of both opportunity and uncertainty for Nvidia’s business throughout 2026.
Separately, reports indicated that a subsidiary of Chinese telecommunications company ZTE has received a license to purchase Nvidia’s H200 AI accelerator chips, while a U.S. official told Reuters that only a small number of H200 chips have actually been shipped to China so far under recently eased export rules.
Memory Sector Volatility Continues to Ripple Through Chip Stocks
Nvidia’s modest pullback Wednesday comes amid continued volatility across the broader memory chip sector, which has periodically spilled over into logic-focused chip designers like Nvidia in recent sessions. Turmoil surrounding South Korean memory maker SK Hynix, whose U.S.-listed shares have swung dramatically since its recent Nasdaq debut, has continued to inject volatility into the broader AI hardware complex, even as Nvidia’s direct exposure to memory pricing dynamics remains more limited than pure-play memory producers.
A Stock Fighting Back Against a ‘Laggard’ Narrative
Despite recent volatility, Nvidia’s stock has shown renewed strength in recent sessions, with shares up 13.6% for the year as of Tuesday’s close. That performance has helped push back against a narrative that had developed earlier in the year characterizing Nvidia as underperforming relative to some other AI-linked chip names during the broader 2026 rally.
Nvidia’s stock remains well below its all-time high of $236.54, reached on May 14, even after Tuesday’s strong session, leaving the stock down roughly 10% to 11% from that peak level.
Strong Underlying Business Metrics
Nvidia’s most recent quarterly results showed continued acceleration in the company’s core business. Revenue grew 70.7% year over year to $82.0 billion, while gross margin rose to 74.1% for the quarter. Nvidia management has characterized overall growth as accelerating, with revenue approaching record levels, partly aided by H200 chip shipments to China under the recently eased export framework.
Analysts Remain Overwhelmingly Bullish
Wall Street continues to hold an overwhelmingly positive view of Nvidia’s stock. According to recent analyst tracking, roughly 92% of analysts covering the company maintain a “Buy” rating, with an average price target of approximately $301.62, implying substantial upside from current trading levels. KeyBanc recently reiterated an “Overweight” rating on the stock following its own analysis of the company’s supply chain and production outlook.
Bank of America has also reiterated a bullish stance on Nvidia, describing the company as a “unique, durable growth franchise” in recent commentary, reflecting continued institutional confidence in Nvidia’s long-term positioning within the broader AI infrastructure buildout despite near-term stock volatility.
AI Infrastructure Spending Remains a Key Theme
Nvidia’s business continues to benefit from what analysts describe as accelerating capital expenditure commitments tied to artificial intelligence infrastructure across the technology sector. Broader industry estimates suggest AI-related capital expenditures could cross $1 trillion in aggregate spending as soon as next year, according to recent industry analysis, underscoring the scale of the ongoing infrastructure buildout that continues to underpin bullish sentiment toward Nvidia and other companies positioned at the center of that spending wave.
A High-Beta Stock in a Volatile Sector
Nvidia’s stock continues to exhibit significant volatility, with a beta coefficient of 1.44 reflecting its tendency to move more sharply than the broader market in both directions. That volatility has been on full display over the past several weeks, as shares have swung between strong single-day rallies, such as Tuesday’s 4% gain, and more modest pullbacks like Wednesday’s session, often in response to shifting sentiment across the broader semiconductor and AI infrastructure investment landscape.
What Comes Next
With Nvidia’s next earnings report not scheduled until August 26, investor attention in the near term is likely to remain focused on incremental developments tied to Vera Rubin production progress, evolving U.S. export policy toward China and other markets, and broader sentiment shifts across the AI infrastructure investment theme. Huang’s continued public reassurances about Vera Rubin’s production timeline appear aimed at maintaining investor confidence in Nvidia’s next-generation product roadmap, a factor that is likely to remain central to the stock’s performance heading into the second half of 2026.
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President Donald Trump says the U.S. can no longer absorb massive trade losses with Canada, dismissing concerns that the tariff fight could drive up costs for Americans ahead of the midterms.
President Donald Trump intensified his criticism of Canada on Sunday, accusing the country of “ripping” the U.S. off “for decades” as he defended his tariff policies and urged Canadian companies to move their operations south of the border.
In back-to-back Truth Social posts Sunday afternoon, Trump first credited tariffs with strengthening the U.S. auto industry and keeping American manufacturing plants open.
“When I announced that I was running in the 2024 Presidential Election, right at the beginning, Ford was getting ready to close their Big Factory, in Detroit,” Trump wrote.
Trump claimed the plant is now “running 24/7” and has become “one of the most profitable Car Plants in the World.”
CANADA PLANS TARIFF RETALIATION AFTER TRUMP WARNS ITS LEADERS TO ‘FALL IN LINE’
U.S. President Donald Trump is pictured during an event in the Rose Garden of the White House on Aug. 20, 2026, in Washington, DC. (Finn Gomez/Getty Images)
“There are many other examples, for both Ford, General Motors, and others. I’ve revived, and indeed saved, the Automobile Business in our America. That’s because of what I’ve done with TARIFFS,” he said.
Trump then shifted his focus to Canada, describing the longtime U.S. ally as one of the country’s “worst” trade offenders.
“One of the Worst Abusers is Canada. I don’t want Canadian cars, I don’t want Canadian parts, I don’t want Canadian anything. They’ve been ripping us off for decades, and it’s going to stop,” Trump wrote.
TRUMP SAYS 50% TARIFFS ON CANADIAN VEHICLE, STEEL IMPORTS TO HIT JAN 1
Canadian Prime Minister Mark Carney speaks at a press conference in Ottawa, Ontario, on Aug. 22, 2026, after trade talks with the US collapsed. (Dave Chan / AFP via Getty Images)
“This should have happened long ago with other Presidents, just as stopping Iran should have happened long ago,” he continued. “They want to be treated like a State, but they aren’t one. I deal with the Leadership of many Countries, but I find Canada to be the worst. They are entitled no longer!”
Minutes later, Trump followed up with another post urging Canadian companies that do business with the U.S. to relocate their operations south of the border.
“Let all Canadian Companies that are doing business with America move to the United States, immediately. Many of them are Companies that moved out years ago due to stupid U.S. Leadership. When you move back, there are no TARIFFS!” Trump wrote.
TRUMP FIRES BACK AT CANADA AFTER CARNEY SUSPENDS TRADE TALKS, ACCUSES US OF LAST-MINUTE ‘POWER PLAY’
Trump claimed the Ford plant is now “running 24/7” and has become “one of the most profitable Car Plants in the World.” (David Paul Morris/Bloomberg via Getty Images)
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The president’s comments come amid escalating trade tensions between the two longtime allies.
U.S. tariffs of 50% on about $20 billion worth of Canadian goods took effect Aug. 22 after trade talks collapsed. Canada retaliated with tariffs on roughly $20 billion in U.S. imports that are set to take effect Sept. 8, according to Reuters.
The White House, Canadian Prime Minister Mark Carney’s office, Ford Motor Co. and General Motors did not immediately respond to requests from FOX Business for comment.
Reuters contributed to this report.
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Ukraine seeks U.S. investment for defence technology fund – FT
TORONTO—Canadian honey producers are feeling the sting from President Trump’s new tariffs. So are exporters of artwork, wool, cosmetics, flowers and hundreds of other goods that depend on the U.S. market.
The Canadian economy as a whole is projected to withstand the new tariffs of 50% on $20 billion worth of Canadian goods, or about 5% of Canada’s U.S.-bound exports. But many small and medium-size Canadian business owners are expected to bear the brunt of the pain, and some fear they could be put out of business without a resolution to the trade spat.
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