Why the Nasdaq Is Is Now Up Big Today (NVDA, DASH, PLTR)

As President Trump’s “Liberation Day” tariffs loom, the stock market shrugged off worries about the impact with the Nasdaq exchange closing higher today.

Stocks that have also been under pressure for various reasons also rose to end the trading day in the green, including Nvidia (NVDA), DoorDash (DASH), and Palantir Technologies (PLTR).

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The Nasdaq exchange had been under pressure in early trading on Wednesday after Tesla (NASDAQ:TSLA) missed big on first-quarter deliveries came in weaker than expected, but gained strength throughout the day to close up 151 points, or 0.87%.

Tesla subsequently also gained ground, closing 5% higher after a report said CEO Elon Musk would soon leave the Dept. of Government Efficiency (DOGE). However, the White House clarified that Musk has previously said publicly he will leave DOGE when his work is completed.

Other popular stocks also closed higher on the day, including Nvidia (NASDAQ:NVDA), which finished trading strong and end up 0.25% after being in the red most of the day; DoorDash (NASDAQ:DASH), which closed 3.7% higher; and Palantir Technologies (NASDAQ:PLTR), which also ended up 3.7%.

AI chipmaker Nvidia got a big boost from an unlikely source today, when The Information reported that Chinese tech companies ByteDance (the owner of TikTok), Alibaba (NYSE:BABA), and Tencent Holdings (OTC:TCEHY) had ordered $16 billion of its H20 accelerators, the most advanced AI server chips still legal to ship to China under U.S. tech export restrictions. 

The orders were placed over the first three months of the year and came amid concern the U.S. would ban the export of these chips too.

Third-party delivery shop DoorDash jumped today after announcing a new partnership with Domino’s (NYSE:DPZ). U.S. platform users will be able to order pizza through DoorDash beginning in May with Canadian users able to order later this year.

The Domino’s deal is a big win for DoorDash as the pizzeria previously had a partnership with Uber Technologies (NYSE:UBER) Uber Eats. That agreement ends on May 1. In February, Domino’s COO John Jordan told analysts that Uber accounted for 3% of its $19.1 billion in 2024 sales, or approximately $575 million. Jordan said today that delivery “aggregators” like DoorDash could generate as much as $1 billion in annual sales.

Palantir Technologies was also running higher after analysts said the AI data analytics stock could win a U.S. Army contract worth $100 million in annual recurring revenue. William Blair analyst Louis DiPalma said Palantir would be a partner on the contract with L3Harris Technologies (NYSE:LHX) and Anduril for the Next-Generation Command and Control (NGC2) program.

PLTR stock has been under pressure in 2025 as concern over defense spending budget cuts that could occur. Palantir has been pushing to expand its exposure to the U.S. commercial market, which is seen as being a bigger, more sustainable market.

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