Since OpenAI released its advanced AI chatbot ChatGPT back in late 2022, Nvidia's market capitalization has climbed tenfold to become the world's first $4 trillion company. Palantir shares have performed even better, climbing over 22x in the same period.

The plans add to a flurry of spending commitments by U.S. tech giants coinciding with Trump’s state visit this week.

Nvidia has spent over $900 million to hire Enfabrica CEO Rochan Sankar and other staff at the artificial intelligence hardware startup and to license the company's technology, CNBC reported on Thursday.

Atlassian is a leader in generative AI tools for work management software.

Nvidia reportedly spent more than $900 million to hire Enfabrica CEO Rochan Sankar and license the startup's technology to connect 100,000 GPUs, strengthening its AI supercomputing systems as shares rose 3.

Though most analysts view artificial intelligence as a game-changing opportunity, not everyone on Wall Street shares in this optimism.

A popular exchange-traded fund that holds seven closely watched Big Tech stocks was slumping Wednesday, dragged down by a large drop in shares of Nvidia Corp. after China reportedly banned its artificial-intelligence chips.

Huawei Technologies unveiled hardware that it claimed could deliver world-class computing power without using Nvidia’s advanced chips, in a breakthrough that could potentially free the supply chokehold that constrains China’s aspirations in artificial intelligence.