Dow Jones Stumbles as Nvidia Soars on Trump’s Saudi Deals—Because Nothing Boosts Tech Like Geopolitical Side-Hustles

Wall Street’s blue-chip index dips while the AI chipmaker rides high—proof that even in a shaky market, there’s always money in the right backroom handshake.

Nvidia’s surge highlights the market’s addiction to headline-driven pumps, while traditional investors cling to their spreadsheets and pray. Meanwhile, Saudi sovereign wealth funds quietly become the new hedge fund whales.

Another day where fundamentals take a backseat to who’s buying whom cocktails in Riyadh.

Chipmakers lead Nasdaq rally

Easing trade relations and lower inflation data contributed to bullish sentiment in the markets. Among the best performers were tech stocks, especially chipmakers, which benefited from a recently negotiated deal between U.S. firms and Saudi Arabia.

Specifically, during an investment forum on Tuesday attended by U.S. President Donald Trump, Saudi Arabia announced billions in deals with chipmakers. Following the news, the world’s largest chipmaker, Nvidia, rose 3.75%, trading at $134.85 per share.

Despite the positive sentiment in equities, the dollar index edged lower on Wednesday, down 0.21% to 100.80 points. At the same time, Gold posted significant losses of 1.91%, trading at $3,182.22. A divestment from the dollar and gold indicates that investors are chasing bigger returns in the stock markets.

Bitcoin (BTC) once again moved in the same direction as gold, down 0.66% to $103,378. Still, the digital gold thesis for Bitcoin is not the only explanation, as crypto prices began rallying days ahead of the stock markets when Bitcoin first broke $100,000. Instead, crypto prices are likely consolidating and cooling off—suggesting that the same may follow for stocks in the near future.