Nvidia traded slightly higher after Jensen Huang's CES keynote. Traders are eyeing key economic data later in the week.

The Biden administration is planning to impose more restrictions on chip sales to China and Russia, according to a report.

Nvidia stock was looking to find its footing on Wednesday after economic data prompted a Big Tech selloff the previous day. Nvidia stock tumbled 6.2% in the previous session, wiping out about $200 billion worth of market capitalization.