$NVIDIA Corp(NVDA)$  The Senate could take a procedural vote as early as Tuesday, as proponents hash out the final language of the bill. A final vote could come as early as next week.

It's important to note that even as the market bids up the stock, it doesn't appear that the legislation will benefit Nvidia, at least notdirectly. Nvidia farms out the manufacturing of its semiconductors, with the bulk of that outsourcing going toTaiwan Semiconductor Manufacturing.

But Nvidia is exploring other options. Earlier this year, CEO Jensen Huang suggested the company was in discussions withIntel(INTC3.90%)to take over some of the company's semiconductor manufacturing, though no specific timeline for a collaboration has been suggested. Intel could be a direct beneficiary of the legislation.