Nvidia is an American company, but the majority of its chips are fabricated offshore by Taiwan Semiconductor Manufacturing, so they are technically imported products. However, Trump exempted semiconductors from his "Liberation Day" tariffs on imports, as he understands the importance of keeping the U.S. at the forefront of AI technology.

U.S. technology-related stocks including many involved in artificial intelligence rose sharply on Thursday following stronger-than-expected results from Microsoft and Meta Platforms, while investors awaited results from Apple and Amazon.

U.S. stocks open higher, boosted by strong earnings from Meta and Microsoft. Apple and Amazon are due to report after the close.