United States chipmaker NVIDIA's (NVDA : NASDAQ) stocks surged in Tuesday trade, up 5.6% on news that it had inked a deal to supply Saudi Arabian tech company Humain 18,000 of its latest AI chip, the GB300 Blackwell.
Humain, backed by the trillion-dollar Saudi sovereign wealth fund PIF, is making a major investment to build AI factories in KSA with a projected capacity of up to 500 megawatts, powered by several hundred thousand of NVIDIA's most advanced GPUs over the next five years.
“AI, like electricity and internet, is essential infrastructure for every nation,” NVIDIA chief executive Jensen Huang said.
“Together with Humain, we are building AI infrastructure for the people and companies of Saudi Arabia to realize the bold vision of the Kingdom.”
The move pushed the company's market cap to close above US$3 trillion for the first time since February, as a wave of trade news bolstered prospects for the AI chip giant.
That included a report from Bloomberg that indicated that the Trump administration may cut a deal for the United Arab Emirates to purchase "more than a million" of NVIDIA's AI chips.
The deal, which is still being negotiated and could change, would let the UAE import 500,000 of the most advanced chips on the market each year from now to 2027, according to people close to the matter.
NVIDIA is set to report its first quarter earnings for its fiscal year 2026 on 28 May.
