Nvidia shares rise 2.88% intraday as U.S. approves UAE AI chip exports, Cantor raises price target to $300, and xAI expands $200B funding linked to NVIDIA.

Nvidia Corporation surged 2.88% intraday, driven by the U.S. government’s approval on October 9, 2025, allowing the company to export billions of dollars worth of AI chips to the UAE, expanding AI sales. Cantor Fitzgerald also raised its price target for Nvidia from $240 to $300 on the same day, maintaining an overweight rating. Additionally, Elon Musk’s xAI is reportedly expanding its funding to $200 billion as of October 8, 2025, involving Nvidia AI chip deals, reinforcing the company’s demand outlook.