Nvidia and AMD shares surged following announcements of new partnerships with Saudi Arabian AI startup Humain. Nvidia’s stock rose over 6%, while AMD’s climbed 4%, driven by plans to supply semiconductors as part of initiatives during President Trump’s Middle East visit. Nvidia will deploy several hundred thousand of its advanced GPUs over five years, starting with a supercomputer using InfiniBand networking technology. AMD and Humain will invest up to $10 billion to build AI computing centers from Saudi Arabia to the U.S. These developments coincide with efforts to secure $1 trillion in investment and trade pledges from Saudi Arabia. Other chip stocks, including Broadcom and Micron Technology, also gained, boosting the PHLX Semiconductor Index.
— new from Investopedia
