Nvidia Corp. and Advanced Micro Devices Inc. will supply semiconductors to Saudi Arabian artificial intelligence company Humain for a massive data center project, acting under a Trump administration initiative that lifts restrictions on delivering advanced technology to the region.

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.

Nvidia and AMD extend gains after the chip makers sign deals with Saudi Arabia, UnitedHealth claws back some losses from the previous session, and American Eagle Outfitters slumps after pulling guidance for the rest of the fiscal year.

Despite Nvidia's AI semiconductor dominance, competitors are innovating to challenge its lead. Read about AMD, Qualcomm, Broadcom, Amazon, and more.

Advanced Micro Devices stock (NASDAQ:AMD) increased by more than 4% during Tuesday's trading session and has risen by nearly 20% over the last month. What factors are contributing to the stock's upward trend?

Some analysts believe that AWS alone could eventually be worth $3 trillion -- which is roughly Nvidia's current market cap. Add in the value of its other businesses, and the case for Amazon outpacing the chipmaker becomes obvious.

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

Nvidia CEO Jensen Huang will open Computex 2025 with a keynote focused on the company’s role in advancing artificial intelligence.

AMD trails Nvidia in AI chip technology with data center growth at 39% YoY (Q1) versus Nvidia’s 427%, Check out why I am upgrading my rating on AMD to Buy.