Investing.com -- NVIDIA (NASDAQ:NVDA) CEO Jensen Huang has accompanied U.S. President Donald Trump during his trip to the Middle East, and so far, the trip appears to be paying off big time for the AI chip giant.
Shares of NVIDIA are up 5.5% shortly after the noon hour on Wall Street.
First in Saudi Arabia, where Trump is speaking today, NVIDIA announced an agreement with HUMAIN, the new full AI value chain subsidiary of Saudi Arabia’s Public Investment Fund.
Through this collaboration, HUMAIN will leverage NVIDIA’s advanced platforms to build AI factories with up to 500 megawatts of capacity powered by hundreds of thousands of NVIDIA GPUs over five years. The initiative, starting with an 18,000-unit Grace Blackwell GB300 supercomputer, aims to establish secure, hyperscale AI infrastructure to drive innovation, digital transformation, and the development of sovereign AI models across Saudi Arabia and beyond.
Elsewhere, Bloomberg News reported Tuesday afternoon that the Trump administration is weighing allowing the United Arab Emirates (UAE) to import more than a million advanced NVIDIA chips.
The ongoing negotiations could result in the UAE importing up to 500,000 cutting-edge chips annually from the present year until 2027. One-fifth of these chips are intended for the Abu Dhabi-based artificial intelligence company G42. The rest of the chips would be supplied to American firms that are developing data centers within the Gulf nation. One such American company that may benefit from this deal is OpenAI. OpenAI is reportedly preparing to announce the expansion of its data center operations in the UAE.
G42 could acquire computing power comparable to that of 1 to 1.5 million of Nvidia’s top-tier H100 chips over the lifetime of the deal, the report added.
President Trump praised Huang during today’s Saudi speech. “We are proud to have you in our country,” Trump said after touting NVIDIA’s $500 billion investment in the U.S.