The announcements follow reports that the US administration intends to facilitate AI chip deals between American firms and Gulf nations.

Nvidia, AMD, AWS, and others struck $100 billion in AI deals this week, aiming to profit from cheaper power and faster access to the growing Middle Eastern market for IT services.

Under agreements with the US expected to be unveiled in coming days, Saudi Arabia and the UAE are poised to win wider access to advanced AI chips from Nvidia and AMD that are considered the gold

The deals served as the coming out party for Humain, a state-backed artificial intelligence (AI) company that operates under the Kingdom’s Public Investment Fund (PIF) and is chaired by Crown Prince Mohammed bin Salman. The company is part of Saudi Arabia’s Vision 2030 strategy to diversify the Saudi economy away from just oil sales.

Despite Nvidia's AI semiconductor dominance, competitors are innovating to challenge its lead. Read about AMD, Qualcomm, Broadcom, Amazon, and more.

BENGALURU] Advanced Micro Devices (AMD) on Wednesday (May 14) announced a new US$6 billion stock buyback plan, joining a string of chipmakers that are looking to reduce their float as the artificial intelligence (AI) trade that has powered their shares shows some signs of slowing.

After its 1Q25 earnings, it’s clear AMD (AMD) isn’t just building fast chips anymore, it’s morphing into a full-stack AI compute platform company.

By Max A. Cherney and Stephen Nellis (Reuters) -A number of U.S. technology firms on Tuesday announced artificial intelligence deals in the Middle East as U.S. President Donald Trump secured $600 billion in commitments from Saudi Arabia to U.