Nvidia CEO Jensen Huang said the cutting-edge Blackwell chips will be used in a 500 megawatt data center in Saudi Arabia.

Nvidia stock jumped over 3% early Wednesday after the company and fellow chipmakers announced billions of dollars worth of AI deals with Saudi Arabia.

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.

President Donald Trump has continued to voice his desire for the U.S. to remain an AI leader while trying to keep top tech out of the hands of China.

The next front in the AI arms race isn’t Beijing. It’s in Riyadh, at least according to Wedbush. A sweeping new partnership between Nvidia and Saudi Arabia’s sovereign AI initiative, Humain, was the focus of the gathering.

US President Donald Trump unleashed an AI Power Play in the Middle East during his visit, as Nvidia, AMD strike major deals in Saudi and UAE.

US chipmakers Nvidia and AMD, as well as other tech firms, have announced deals to work with Saudi Arabia's brand new AI venture Humain worth billions of dollars. This comes as US President Donald Trump is visiting the Middle East and paving the way for business deals for US companies.

The Trump administration is preparing to announce a deal granting Saudi Arabia more access to advanced semiconductors, paving the way for increased data center capacity in the Gulf nation despite concerns from some US officials about its ties to China,