Nvidia ( NVDA) stock dropped as much as 2% Friday morning after US President Trump claimed that China had “totally violated” an agreement with the US. The tech-heavy Nasdaq ( ^IXIC) fell 0.3%, while the S&P 500 ( ^GSPC) was down just 0.1% late Friday morning.

Nvidia CEO Jensen Huang had a lot to say about the China restrictions and praised President Donald Trump during the company's Q1 earnings call.

Nvidia and AMD will soon begin selling new GPUs made for AI workloads in China to comply with US chip export restrictions.

Even as Nvidia reported another blockbuster quarter of 69% sales growth on Wednesday, the maker of artificial intelligence chips warned of more emerging risks to its business due to the technology conflict between the U.

Artificial intelligence titan Nvidia will take center stage Wednesday afternoon when the company shares financial results from its quarter ending last month, and though analysts expect record-setting sales amid the AI boom,

Sen. Jim Banks and Sen. Elizabeth Warren are accusing the chip maker of undercutting national security.

While Nvidia is being squeezed out of China, other policy changes may help open up additional markets. The US president recently visited Saudi Arabia and other states in the Middle East, where he announced large AI projects. That reversed a push by his predecessor to clamp down on the region’s access to AI technology.

While many analysts still count Nvidia as a top tech pick, they're also cautious on overhangs related to China restrictions and tariffs.

Nvidia stock ended Friday's session down 2.9%, which is about in line with where it closed prior to the earnings pop yesterday. There were good reasons for both days' moves.