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Despite Nvidia's AI semiconductor dominance, competitors are innovating to challenge its lead. Read about AMD, Qualcomm, Broadcom, Amazon, and more.

US administration lifts export restrictions of advanced AI technology to the Middle East, Nvidia and AMD to export thousands of chips to Saudi Arabia.

Guinness Global Innovators is highly bullish on NVIDIA Corp. (NASDAQ:NVDA) due to its dominant AI chip market position. It stated the following in its Q4 2024 investor letter:

Humain and Nvidia have signed a deal for a 500-megawatt AI data center in Saudi Arabia. The deal was announced during the Saudi-US investment forum. Humain

AMD remains in a distant second place to Nvidia in terms of AI accelerator sales, but it seems to have found a big customer in Humain. In a separate announcement, it said the two parties will invest up to $10 billion to build 500 megawatts of AI compute capacity in Saudi Arabia, as part of an “AI superstructure.”

Nvidia returned to the $3 trillion market cap club on Tuesday following the announcement of a major partnership with a state-backed Saudi Arabian AI company. Monitor these crucial chart levels.

Nvidia’s shares soared amid billions of dollars in artificial intelligence investment deals made between US President Donald Trump and Saudi Arabia’s Crown Prince Mohammed bin Salman, as the Trump administration deepens ties with the wealthy Middle Eastern nation.