Nvidia, AMD Sell Chips to Saudi Arabia
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Nvidia and other AI stocks climbed Wednesday, extending Tuesday's gains as Saudi partnerships stoked excitement for future deals.
Nvidia stock jumped over 3% early Wednesday after the company and fellow chipmakers announced billions of dollars worth of AI deals with Saudi Arabia.
Nvidia CEO Jensen Huang said the cutting-edge Blackwell chips will be used in a 500 megawatt data center in Saudi Arabia.
NVIDIA and the Saudi Data & AI Authority (SDAIA) will deploy up to 5,000 Blackwell GPUs for a sovereign AI factory and enable smart city solutions. NVIDIA and SDAIA will train government and university scientists and engineers on how to develop and deploy models for physical and agentic AI.
In a geopolitical chess game with billions at stake, Saudi Arabia, the U.S. and Nvidia all have something to gain.
The announcements follow reports that the US administration intends to facilitate AI chip deals between American firms and Gulf nations.
Trump met with Saudi Crown Prince Mohammed bin Salman and attended a US-Saudi investment forum along with Elon Musk and other top CEOs.
Saudi Arabia’s Crown Prince Mohammed Bin Salman launched Humain to develop and manage artificial intelligence technologies.