Nvidia returned to the $3 trillion market cap club on Tuesday following the announcement of a major partnership with a state-backed Saudi Arabian AI company. Monitor these crucial chart levels.

Other semiconductor stocks also did well Monday after Beijing and Washington agreed to drastically reduce tariffs for 90 days while talks on a more permanent deal continue.

Shares of Nvidia ( NVDA 5.63%) were off to the races on Tuesday, climbing as much as 6.4%. As of 11:35 a.m. ET, the stock was still up 5.6%. The catalyst that sent the artificial intelligence (AI) chipmaker higher was news that the company could gain greater access to two important markets.