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.S. companies during a tour of Gulf states.

The Trump administration is reportedly making a deal to give Saudi Arabia access to advanced chips from companies like Nvidia and AMD

Nvidia leaped back into the vaunted $3 trillion club on Tuesday as its stock shot up following the announcement of a major sale to a state-backed Saudi Arabian AI company.

Nvidia CEO Jensen Huang's personal net worth jumped to around $120 billion on Tuesday, up from $80 billion last year, as a boom in demand for the company's artificial intelligence chips has powered a steep rally in its shares.

In a geopolitical chess game with billions at stake, Saudi Arabia, the U.S. and Nvidia all have something to gain.

Shares of Nvidia advanced 5.6% on news that the company would send 18,000 of its top artificial intelligence chips to Saudi Arabia.

Saudi Arabia to Become a Global AI Leader With Sovereign AI Infrastructure Powered by NVIDIARIYADH, Saudi Arabia, May 13, 2025 (GLOBE NEWSWIRE) -- NVIDIA and the Kingdom of Saudi Arabia (KSA) today announced partnerships to transform the country into a global powerhouse in AI,