Nvidia and other stocks climbed on Thursday after President Trump said he'll exempt companies from his planned semiconductor tariffs if they have committed to making their chips in the US.

Chip stocks rose on Thursday, the day after President Donald Trump said companies that commit to manufacturing in the U.S. will be exempt from 100% semiconductor tariffs.

President Donald Trump stunned markets Wednesday by announcing 100% tariffs on imported semiconductor chips — but major chip stocks rallied. Taiwanese chip giant TSMC's stock closed 4.9% higher. In South Korea, Samsung Electronics ended 2.5% higher while SK Hynix reversed losses of over 3% in early trade to close 1.4% up.