Nvidia, AMD, AWS, and others struck $100 billion in AI deals this week, aiming to profit from cheaper power and faster access to the growing Middle Eastern market for IT services.

NVIDIA, a global leader in AI computing infrastructure, and HUMAIN, the newly formed AI arm of Saudi Arabia's Public Investment Fund, have announced a significant strategic partnership.

Nvidia (NVDA) stock climbs as a major AI partnership with Saudi Arabia and a $23 billion CoreWeave infrastructure plan drive bullish investor sentiment.

The deals served as the coming out party for Humain, a state-backed artificial intelligence (AI) company that operates under the Kingdom’s Public Investment Fund (PIF) and is chaired by Crown Prince Mohammed bin Salman. The company is part of Saudi Arabia’s Vision 2030 strategy to diversify the Saudi economy away from just oil sales.

Under agreements with the US expected to be unveiled in coming days, Saudi Arabia and the UAE are poised to win wider access to advanced AI chips from Nvidia and AMD that are considered the gold

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 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.

Saudi Arabia’s Crown Prince Mohammed Bin Salman launched Humain to develop and manage artificial intelligence technologies.