Latest news with #WhiteHouse-led
CNBC
16-05-2025
- Business
- CNBC
Nvidia and Tesla ripped higher this week, boosted by Trump's Middle East tour
It's been a stellar week for technology stocks thanks to thawing global tensions and President Donald Trump's Middle East jaunt. Tesla and Nvidia jumped 17% and 16%, respectively, this week as tensions eased between the U.S. and China and Trump's Middle East dealmaking tour put tech deals in the spotlight. Both China and the U.S. announced a 90-day pause on tariffs, in a move that signaled a major de-escalation of the sweeping global trade war that has rattled markets since April. During a White House-led visit to the Middle East this week, Nvidia CEO Jensen Huang shared plans to sell more than 18,000 of its artificial intelligence Blackwell chips to Saudi Arabia-based Humain to power data centers. AMD also said it would supply chips to Humain. AMD shares popped nearly 14% for the week. Tesla CEO Elon Musk was also in Saudi Arabia and said the kingdom approved the use of SpaceX's Starlink satellite internet service for aviation and maritime use. Musk also said he plans to bring robotaxis to the country. In the United Arab Emirates, the White House announced a partnership to build a sweeping AI campus with several U.S. companies. A source told CNBC that Nvidia is among the companies supporting the project. Recent White House plans to dial back chip export curbs on China from President Joe Biden's administration for a "much simpler rule" also benefited the sector. Like many peers, Nvidia needs a license to ship its AI chips to China after the U.S. began cracking down on exports in 2022 due to national security concerns. Last month, Nvidia said it would record a $5.5 billion charge from H20 GPU shipments to China, which is a key market for the U.S.-based chipmaker. Huang told CNBC that China's AI market could hit $50 billion over the next two to three years, and missing out would be a "tremendous loss."
Time of India
15-05-2025
- Business
- Time of India
Nvidia CEO Jensen Huang says starting a company is harder than it seems: ‘Nobody in their right mind would…'
Nvidia CEO Jensen Huang recently said that if given another chance, he would not start Nvidia. Huang, who recently appeared on the Acquired podcast , was asked what type of company he would start if he had the chance to do it all over again. Responding to the question, he replied 'I wouldn't'. Adding further, he stated "Building a company and building Nvidia turned out to have been a million times harder than any of us expected it to be'. He continued: 'And at the time, if we realized the pain and suffering and just how vulnerable you're going to feel and the challenges that you're going to endure, the embarrassment and the shame, and the list of all the things that go wrong—I don't think anybody would start a company. Nobody in their right mind would do it'. During the podcast, Huang also highlighted that most founders succeed because they initially underestimate the difficulties they might face. He said 'You have to get yourself to believe that it's not that hard because it's way harder than you think…Taking all of my knowledge now—I go back, and I said I'm going to endure that whole journey again, I think it's too much. It is just too much.' When asked about the importance of networking support to succeed in a startup, Huang said 'You need the unwavering support of the people around you… I'm pretty sure that almost every successful company and entrepreneurs that have gone through some difficult challenges had that support system around them.' Nvidia to sell 1800-plus AI chips to Saudi Arabia In related news, Nvidia announced that the company will sell over 18,000 of its latest artificial intelligence (AI) chips to Saudi Arabian firm Humain. The announcement was made during the Saudi-U.S. Investment Forum in Riyadh, which is part of a White House-led visit to the region that includes President Donald Trump and several tech leaders including Elon Musk, Sam Altman and Jensen Huang. The chips, part of Nvidia's Blackwell series, will be used in data centers with a total capacity of 500 megawatts. Nvidia said the chips to be deployed first will be the GB300 Blackwell chips, which were officially unveiled earlier this year. These chips are designed for training and deploying advanced AI systems.
Yahoo
14-05-2025
- Business
- Yahoo
Why Nvidia Stock Surged Higher Again Today
A visit to the Saudi-U.S. investment forum lands CEO Jensen Huang a big order for Nvidia chips. The White House-led visit also announced a $600 billion commitment for Saudi investments in the U.S. Nvidia will benefit from artificial intelligence (AI) investments in both countries. These 10 stocks could mint the next wave of millionaires › The recovery in Nvidia (NASDAQ: NVDA) stock continues again today. After plunging more than 30% from 2025 highs, shares of the advanced semiconductor company have been staging a comeback in recent weeks. Today's move comes as CEO Jensen Huang attends the Saudi Arabia-U.S. investment forum along with other business leaders and President Trump. Huang has already made that visit lucrative for Nvidia. Investors heard the news of a new business deal for the artificial intelligence (AI) leader and pushed Nvidia shares higher by 5.6% as of 11:45 a.m. ET. Nvidia announced a deal to sell more than 18,000 of its latest Blackwell chips to Saudi Arabian company Humain for hyperscale AI data centers. That deal is just the first phase of a new partnership. Humain plans to be a leading Saudi builder of AI infrastructure that will deploy AI models and other digital platforms. Nvidia will participate in much of that growth. Humain will also utilize Nvidia's Omniverse cloud platform to power applications in a new 500-megawatt data center. Tareq Amin, CEO of Humain, stated, "Our partnership with Nvidia is a bold step forward in realizing the Kingdom's ambitions to lead in AI and advanced digital infrastructure." That's not the only news that has Nvidia shareholders excited today. The White House also announced $600 billion worth of Saudi Arabian investments in the U.S. That includes a planned $20 billion investment in AI data centers and energy infrastructure. While Nvidia wasn't mentioned by name in the announced $600 billion commitment, it stands to reason that it will be involved in supplying chips and other products for the increasing growth of data centers and AI infrastructure in the U.S. going forward. All of that news has investors believing that Nvidia still has a long runway for growth. There is no reason to dispute that belief, and investing in Nvidia stock now looks to be a good bet. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $318,970!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $40,016!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $598,613!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of May 12, 2025 Howard Smith has positions in Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. Why Nvidia Stock Surged Higher Again Today was originally published by The Motley Fool
Gulf Insider
14-05-2025
- Automotive
- Gulf Insider
Elon Musk: Starlink Has Been Approved In Saudi Arabia
Billionaire tech entrepreneur Elon Musk said on Tuesday that Saudi Arabia has approved the use of his satellite internet service Starlink for aviation and maritime sectors. 'I'd also like to thank the Kingdom for approving Starlink for maritime and aviation use,' Musk said during the Saudi-US Investment Forum, which coincided with a White House-led visit to the Kingdom. Starlink, operated by Musk's aerospace firm SpaceX, has been pushing for broader international expansion, recently offering its hardware for free outside the US to attract new users. The service aims to provide high-speed connectivity, particularly in underserved and mobile areas, and Saudi Arabia's transport and logistics sectors are likely to be key beneficiaries. Musk, who also heads Tesla, used the occasion to float his wider ambitions for the region, signalling interest in introducing Tesla's self-driving cars to the Kingdom. While no launch date was revealed, he said the move could bring cutting-edge autonomous technology to Saudi roads. 'I think it would be very exciting to have autonomous vehicles here in the kingdom, indeed, if you're amenable,' he said. He also revealed that he had shown several of Tesla's Optimus humanoid robots to both President Donald Trump and Saudi Crown Prince Mohammed bin Salman. Tesla has pitched its robots and self-driving vehicles as the foundation for its future profitability, although its Optimus model is still under development and faces stiff competition in the robotics space. The high-profile event on Tuesday brought together Trump and a delegation of US tech executives focused on artificial intelligence, semiconductors and defence, further deepening cooperation between the US and Saudi Arabia on emerging technologies.
Time of India
14-05-2025
- Business
- Time of India
Nvidia to sell 18000-plus AI chips to Saudi Arabia, CEO Jensen Huang says ‘I am so delighted to…'
Image source: AP Nvidia CEO Jensen Huang on Tuesday (May 13) announced that the company will sell over 18,000 of its latest artificial intelligence (AI) chips to Saudi Arabian firm Humain. The announcement was made during the Saudi-U.S. Investment Forum in Riyadh, which is part of a White House-led visit to the region that includes President Donald Trump and several tech leaders including Elon Musk, Sam Altman and Jensen Huang. The chips, part of Nvidia's Blackwell series, will be used in data centers with a total capacity of 500 megawatts. Nvidia said the chips to be deployed first will be the GB300 Blackwell chips, which were officially unveiled earlier this year. These chips are designed for training and deploying advanced AI systems. What Nvidia CEO Jensen Huang said 'I am so delighted to be here to help celebrate the grand opening, the beginning of Humain,' Huang said at the event. 'It is an incredible vision, indeed, that Saudi Arabia should build the AI infrastructure of your nation so that you could participate and help shape the future of this incredibly transformative technology.' Humain is backed by Saudi Arabia's Public Investment Fund. The company plans to develop AI models and build the required data center infrastructure. According to a press release, Humain aims to eventually use 'several hundred thousand' Nvidia GPUs. 'Saudi Arabia is rich with energy, transforming the energy through these giant versions of these Nvidia AI supercomputers, which are essentially AI factories,' Huang said at the event. AMD also said it will provide chips to Humain under the same project. According to AMD, Humain has committed $10 billion to build out the 500MW AI capacity. AMD shares gained 4% during trading. Last week, the US Department of Commerce said it would replace what it called President Joe Biden's export rule on AI chips with a simpler version. Since 2023, Nvidia has needed to apply for an export license to ship some of its AI chips, due to national security rules. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
