Nvidia (NVDA) stock is higher in Tuesday's session after President Donald Trump on Monday revoked Executive Order 14110 that was initially signed by former President Joe Biden in 2023.
The order focused on "Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence" and created a framework for federal oversight of artificial intelligence (AI) developers.
The now-revoked mandate required AI developers to submit safety test results to the U.S. government before releasing them to the public, according to Reuters. However, in 2024, the Republican Party said it would reverse the order because it was a hindrance to innovation.
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"We will repeal Joe Biden's dangerous Executive Order that hinders AI Innovation, and imposes Radical Leftwing ideas on the development of this technology," the Republican Party said. "In its place, Republicans support AI Development rooted in Free Speech and Human Flourishing."
The White House's page on Executive Order 14110 now brings up a 404 error, showing "Page Not Found."
Is Nvidia stock a buy, sell or hold?
Wall Street still sees Nvidia as one of the best stocks to buy even after its shares nearly tripled in 2024. The semiconductor stock has had a muted performance so far in 2025, up roughly 3% at last check.
According to S&P Global Market Intelligence, the average analyst target price for NVDA stock is $173.08, representing implied upside of nearly 25% to current levels. Additionally, the consensus recommendation is a Strong Buy.
Financial services firm UBS Global Research has a Buy rating on the AI stock with a $185 price target.
"NVDA has essentially treaded water since last earnings, in part due to supply chain noise and concerns around the ramp of Blackwell server racks," says UBS Global Research analyst Timothy Arcuri. "We remain confident that NVDA will deliver strong fourth-quarter results and first-quarter guidance, and investor concerns around a near-term 'air pocket' are overblown."
Nvidia will disclose its fourth-quarter results after the market closes on Wednesday, February 26.
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