Nvidia Rallies 7% Reclaims $3 Trillion Market Cap with Saudi AI Chip Deal

Nvidia's stock surged over 7%, reclaiming a market valuation above $3 trillion after announcing a major deal to supply 18,000 GB300 Blackwell AI chips to Humain, an AI company backed by Saudi Arabia's Public Investment Fund. This partnership supports the construction of a 500-megawatt AI data center in Saudi Arabia, marking a significant expansion of Nvidia's international presence beyond traditionally export-restricted regions. The agreement aligns with a broader US-Saudi collaboration involving a $600 billion investment in American AI and energy infrastructure, further fueling market optimism. Additionally, the Trump administration is reportedly considering easing export limits on AI chips to the UAE, potentially allowing shipments of over one million Nvidia chips and expanding Nvidia's market reach. The surge in Nvidia shares contributed to a broader rally in technology stocks, reflecting growing confidence that trade tensions, especially those related to the US-China trade war, are easing. This shift reduces Nvidia's dependency on riskier regions while positioning it at the forefront of AI infrastructure development globally.