Jensen Huang’s magic touch isn’t limited to Nvidia. Shares of AI infrastructure provider Nebius, chip design company Cadence, and hyperscaler CoreWeave all rose as much as 10% this week after Nvidia CEO Jensen Huang complimented them on stage at a company event in Taiwan, according to an analysis from market-intelligence provider Hudson Labs. Nebius is a “world-class AI cloud,” Huang said on stage, while also highlighting a design partnership with Cadence.
It’s a new spin on the “Trump bump,” which has boosted shares across companies favored by the president. Micron shares are up 880% since Trump dubbed them a “great company” in August. Caterpillar, Ford, and General Motors have all seen their stocks rise by double digits since the president praised them. Ditto for Coca-Cola, which he commended for pledging to use cane sugar instead of corn syrup.