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

AI stocks are the hottest trades on Wall Street again. They're also among traders' favorite stocks to bet against.

The U.S. and the UAE announced they would work together to construct the largest artificial intelligence data center outside of the U.S. in Abu Dhabi, with the Emirati firm G42 building the facility that will cover 10 square miles and have a 5-gigawatt capacity, the Department of Commerce said.

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.

Under agreements with the US expected to be unveiled in coming days, Saudi Arabia and the UAE are poised to win wider access to advanced AI chips from Nvidia and AMD that are considered the gold

After its 1Q25 earnings, it’s clear AMD (AMD) isn’t just building fast chips anymore, it’s morphing into a full-stack AI compute platform company.

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.

By Max A. Cherney and Stephen Nellis (Reuters) -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.