Shares of the chipmaker are down around 8% so far in 2025 as of this writing. But a closer look at the recent stock price action suggests investors are regaining confidence in the artificial intelligence (AI) pioneer.

Super Micro is a major Nvidia partner and integrates Nvidia’s GPUs into its high-performance AI servers. A slowdown in server orders could signal that end customers are becoming more cautious and are likely reassessing the ROI of massive AI investments or waiting for new hardware cycles.

Continuing its 5.6% rally from yesterday, Nvidia (NASDAQ: NVDA) is set to open up about 3% higher at $133.73. That’s because of two key catalysts. One, the trade war is finally cooling with China. That should remove a good deal of uncertainty from tech stocks,