Shares of chipmaker Nvidia (NASDAQ: NVDA) have soared more than 2,400% in just the past five years. The stock has proven to be a growth machine due to advancements in artificial intelligence (AI) and the importance the company's chips play in next-gen technologies.

The Biden administration is planning to impose more restrictions on chip sales to China and Russia, according to a report.

Nvidia stock was looking to find its footing on Wednesday after economic data prompted a Big Tech selloff the previous day. Nvidia stock tumbled 6.2% in the previous session, wiping out about $200 billion worth of market capitalization.

Following Nvidia's (NASDAQ: NVDA) presentation at CES 2025, Bank of America analyst Vivek Arya reiterated a bullish view on Nvidia's growth trajectory and stock appreciation potential. The stock has had a phenomenal run over the last few years,