18,000+ Blackwell Chips to Saudi Arabia!
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Saudi Arabia wants to rock the casbah. While the U.S. is currently the leader in AI technology, China is looming large in America's rear-view mirror. 💸💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💸 In 2015 China launched "Made in China 2025,
Nvidia and other AI stocks climbed Wednesday, extending Tuesday's gains as Saudi partnerships stoked excitement for future deals.
Nvidia’s partnership with Saudi Arabia’s Humain could help offset some of its revenue losses in China, analysts said.
Biden restricted the export of U.S. semiconductor chips to Saudi Arabia over national security concerns. Trump rescinded those restrictions.
Nvidia stock jumped over 3% early Wednesday after the company and fellow chipmakers announced billions of dollars worth of AI deals with Saudi Arabia.
Trump met with Saudi Crown Prince Mohammed bin Salman and attended a US-Saudi investment forum along with Elon Musk and other top CEOs.
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.