Nvidia continues to prove the AI doubters wrong by delivering quarter after quarter of breakneck earnings growth, maintaining its high margins, and generating substantial excess cash flow despite increased spending.

Executives unveiled plans at Wednesday gathering featuring President Trump and Crown Prince Mohammed bin Salman.

Foxconn said that the $1.4 million supercomputing cluster it is building in Taiwan with Nvidia will be ready by the first half of 2026. Once completed, it will be Taiwan’s largest advanced GPU culture.

Elon Musk's AI startup, xAI, will be the inaugural client of a massive Saudi-backed data center powered by hundreds of thousands of Nvidia Corp.'s (NASDAQ: NVDA) chips.

Laser makers Coherent, Corning, and Lumentum Holdings rose 7.5%, 3.4%, and 3.4%, respectively. Vertiv Holdings, which makes server racks, cabinets, and cooling products, rose 5.1%. And networking equipment company Ciena rose 6.3%. Nvidia itself was up 4.6%.

Nvidia management expects to benefit from the huge $3-4 trillion in AI infrastructure spending over the next five years. Click to read why NVDA is a Strong Buy.

Nvidia CEO Jensen Huang told employees this week that the company has been pushed into a no-win situation by mounting fears of an AI bubble, even as it continues to post blockbuster results, according to audio of an internal all-hands meeting reviewed by Business Insider.