If there’s a playbook companies can follow to avoid more tariffs, Apple (AAPL) may have found it.

President Donald Trump said yesterday that the iPhone maker and other companies like it could be exempt from future semiconductor tariffs, based on its recent investments in U.S. manufacturing, in a major win for Apple after a tough start to the year dogged by worries about tariffs and its progress in AI.

“The good news for companies like Apple is if you're building in the United States or have committed to build—without question committed to build in the United States, there will be no charge,” Trump said yesterday, after Apple CEO Tim Cook joined the president at the White House to announce a $100 billion pledge to invest in U.S. manufacturing, adding to a $500 billion investment announced in February.

The move will see Apple making more of its components domestically, though it stopped short of promising full-fledged production stateside, suggesting companies don’t actually need to move all of their operation to the U.S. to win similar exemptions.

Cook also isn’t the only major tech CEO who’s managed to score some concessions from the Trump administration after a high-profile visit to the White House.

Nvidia (NVDA) CEO Jensen Huang, who reportedly met with Trump yesterday as well, has made a number of visits to the White House in the past few months, with some signs of success in winning Trump's favor. The chipmaker said last month that it’s looking forward to obtaining approvals to resume sales of key AI chips to China, after Trump tightened export restrictions earlier this year, citing national security concerns.

Shares of Apple climbed about 2% to more than $218 in recent trading, extending yesterday’s 5% gain ahead of the company's announcement.

Wall Street analysts widely cheered the move by Apple, with Bank of America analysts raising their target to $250 from $240, while JPMorgan analysts called Cook’s moves a “masterclass in managing geo-political uncertainty,” and reiterated their price target at $255. Wedbush analysts led by longtime Apple bull Dan Ives said it was a “strategic poker move for Cook,” and maintained their Street-high target of $270.

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