Nvidia, AMD Sell Chips to Saudi Arabia
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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.
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’s partnership with Saudi Arabia’s Humain could help offset some of its revenue losses in China, analysts said.
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.