Before you say it - yes we know the chip giant's stock just surged on tariff relief rumors - but that’s like a dead cat bounce.

Nvidia (NVDA) shares are extending gains this morning following reports that its budget-friendly RTX 5060 chip designed primarily for gaming will become available for purchase on May 19. Nvidia’s RTX 5060 features advanced technologies like DLSS 4 for enhanced frame rates and ray tracing for realistic graphics.

Shares of Nvidia ( NVDA 4.11%) are surging higher on Friday. The AI chip giant's stock had gained 4% as of 1:50 p.m. ET and was up as much as 5.2% earlier in the day. This comes as the S&P 500 was up 0.4% and Nasdaq Composite was up 1%.