Nvidia, AMD Sell Chips to Saudi Arabia
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U.S. tech giants including Nvidia, AMD, and Qualcomm have signed major AI deals with Saudi Arabia's new startup Humain, backed by the kingdom's sovereign wealth fund. The agreements coincide with former President Donald Trump securing $600 billion in investment commitments during his Middle East tour.
Nvidia and AMD extend gains after the chip makers sign deals with Saudi Arabia, shares of Super Micro Computer surge for a second day, and UnitedHealth claws back some losses from the previous session.
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
Despite Nvidia's AI semiconductor dominance, competitors are innovating to challenge its lead. Read about AMD, Qualcomm, Broadcom, Amazon, and more.
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AMD trails Nvidia in AI chip technology with data center growth at 39% YoY (Q1) versus Nvidia’s 427%, Check out why I am upgrading my rating on AMD to Buy.