Nvidia Stock Gains as Amazon Reassures Markets on AI Data-Center Plans. What to Know.

NVDA -4.51%   AMZN -3.06%  WFC -1.08%  MSFT -2.35%  AMD -2.22%   AVGO -2.80%

Nvidia 

NVDA -4.51% stock was gaining early Tuesday after Amazon 

AMZN -3.06%.com pushed back against reports that it was pulling back on building artificial-intelligence infrastructure.

Nvidia shares were up 1.3% at $98.20 in premarket trading. The stock fell 4.5% on Monday.

The chip maker suffered after Amazon’s AWS cloud business was reported on Monday to have delayed several new data center leases. Analysts at Wells Fargo WFC -1.08% said the company had pulled back from its commitments for some co-location facilities, following similar moves at Microsoft MSFT -2.35%.

“This is routine capacity management, and there haven’t been any recent fundamental changes in our expansion plans,” wrote Kevin Miller, vice president of global data centers at AWS, in a post on LinkedIn late Monday. 

The shifts are more likely to be about reallocating internal resources rather than reducing investment, according to research-firm TrendForce

“However, growing geopolitical uncertainties and increasingly stringent export controls may prompt AWS and other major CSPs [cloud-service providers] to adopt a more cautious stance on capital expenditures—potentially slowing the overall pace of AI infrastructure expansion,” TrendForce analysts wrote. 

Among other chip makers, Advanced Micro Devices AMD -2.22% was gaining 1% and Broadcom AVGO -2.80% was rising 1.4% in premarket trading.