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.

The partnership was announced as part of a White House tour to Saudi Arabia, Qatar, and the United Arab Emirates.

As the Trump administration prioritizes partnerships with the Mideast, China emerges as the ‘big loser,’ the Wedbush analyst told Fortune.

NVIDIA, a global leader in AI computing infrastructure, and HUMAIN, the newly formed AI arm of Saudi Arabia's Public Investment Fund, have announced a significant strategic partnership.

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

Nvidia (NVDA) stock climbs as a major AI partnership with Saudi Arabia and a $23 billion CoreWeave infrastructure plan drive bullish investor sentiment.

Qualcomm is once again setting its sights on the data center CPU market, this time teaming up with Saudi Arabia’s AI venture, Humain AI.

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.

U.S. chip maker Nvidia will partner with Saudi Arabia’s sovereign wealth fund-owned AI startup Humain and will ship 18,000 chips to the Middle Eastern nation to help power a new data center project.

The United States does not hold a monopoly on technological breakthroughs. As it sought to contain China’s advances in artificial intelligence, President Joe Biden’s administration tried to use restrictions on cutting-edge chips from Nvidia as a cudgel,