Biden restricted the export of U.S. semiconductor chips to Saudi Arabia over national security concerns. Trump rescinded those restrictions.

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

Nvidia CEO Jensen Huang may well be on his way to dethroning Elon Musk as the richest man in the world — his personal net worth reportedly  jumped to around $120 billion

Trump met with Saudi Crown Prince Mohammed bin Salman and attended a US-Saudi investment forum along with Elon Musk and other top CEOs.

Nvidia stock gained 5.6 per cent on news that it would supply 18,000 AI chips to Saudi Arabia. The share jump also pushed CEO Jensen Huang's wealth near $120 billion, as the company's market value touched $3 trillion.

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

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

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

Saudi Arabia’s Crown Prince Mohammed Bin Salman launched Humain to develop and manage artificial intelligence technologies.