Nvidia, AMD Sell Chips to Saudi Arabia
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NVIDIA (NasdaqGS:NVDA) recently announced a significant partnership with Saudi Arabia to advance AI capabilities, which coincides with the company's strategic focus on developing global collaborations.
AI Revolution taking off in Saudi Arabia, creating major opportunities for US tech stocks. Trump's visit & trade deal with China add to bullish outlook.
Nvidia leaped back into the vaunted $3 trillion club on Tuesday as its stock shot up following the announcement of a major sale to a state-backed Saudi Arabian AI company.
The next front in the AI arms race isn’t Beijing. It’s in Riyadh, at least according to Wedbush. A sweeping new partnership between Nvidia and Saudi Arabia’s sovereign AI initiative, Humain, was the focus of the gathering.
Biden restricted the export of U.S. semiconductor chips to Saudi Arabia over national security concerns. Trump rescinded those restrictions.