Nvidia stock jumped Friday after a key supplier’s latest earnings report appeared to bode well for the artificial-intelligence trade amid a wider market rally. The chip maker’s shares climbed 3.2% to $119.

Once a stock market darling, Nvidia stock seems to have taken a heavy beating due to increasing economic uncertainties, rising tech sector volatility, and intensifying competitive pressures. An increase in insider and institutional selling activity in the past year also seems to have affected investor confidence.