NVIDIA Surges 5% on Saudi AI Chip Export Deal, S&P 500 Recovers Losses

On May 13, the three major U.S. stock indices showed mixed performance. Notably, the S&P 500 index recovered from its year-to-date losses. NVIDIA and Tesla both reached new highs for the period. International oil prices rose, and gold prices rebounded after a recent decline.

NVIDIA's stock surged by more than 5%, while Tesla's stock also saw a significant increase. Other major U.S. tech stocks generally performed well. The U.S. Tech Seven Index rose by 2.02%. Meta Platforms increased by 2.60%, Amazon by 1.31%, Apple by 1.02%, and Alphabet by 0.82%. Microsoft was the only major tech stock to decline, dropping by 0.03%.

NVIDIA's CEO, Jensen Huang, announced on Tuesday that the company would export 18,000 top-tier AI chips to Saudi Arabia. This news likely contributed to the surge in NVIDIA's stock price. Several Chinese tech stocks listed in the U.S. also performed well, with some seeing double-digit gains. However, the Nasdaq Golden Dragon China Index, which tracks the performance of Chinese companies listed in the U.S., saw a slight decline of 0.07%.

In Europe, the three major stock indices showed mixed performance. The French CAC 40 index rose by 0.30%, the German DAX index by 0.31%, while the UK's FTSE 100 index declined slightly by 0.02%.

In the commodities market, international gold prices showed signs of recovery. By the close of trading, London gold futures rose by 0.43% to $3,249.480 per ounce, and COMEX gold futures increased by 0.82% to $3,254.5 per ounce. International oil prices also rose, with NYMEX WTI crude oil increasing by 2.71% to $63.63 per barrel, and ICE Brent crude oil rising by 2.45% to $66.48 per barrel.