Nvidia, AMD Sell Chips to Saudi Arabia
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Nvidia’s partnership with Saudi Arabia’s Humain could help offset some of its revenue losses in China, analysts said.
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.
Nvidia stock jumped over 3% early Wednesday after the company and fellow chipmakers announced billions of dollars worth of AI deals with Saudi Arabia.
Nvidia shares rose for a third straight day Wednesday, with sentiment in the artificial-intelligence sector bosted by tech deals that followed President Trump's visit to the Middle East. BofA Secur
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The bank raised its target for Nvidia (NASDAQ: NVDA) to $160 from $150 and the target for AMD to $130 from $120 a share. NVIDIA and AMD announced separate multi-year AI infrastructure projects with HUMAIN, a subsidiary of Saudi Arabia’s Public Investment Fund.
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