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Nvidia, Saudi Arabia and AMD
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Trump, Saudi Arabia and Arms Deal
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Shares of semiconductor manufacturer AMD were up Wednesday after a big stock buyback authorization. Here's what that means.
Under the agreement, AMD will support the deployment of 500 megawatts of AI compute capacity across Saudi Arabia over the next five years. The project is set to create one of the
Humain, Saudi Arabia’s new artificial intelligence investment company, is teaming up with chipmaker Advanced Micro Devices Inc. to spend $10 billion on AI infrastructure over the next five years.
Nvidia’s partnership with Saudi Arabia’s Humain could help offset some of its revenue losses in China, analysts said.
Amazon, Google, and Nvidia are among those who struck deals during Trump's visit to the Middle East, his first major overseas trip of his second term.
AMD said on Wednesday that its board of directors approved $6 billion in share buybacks. The stock climbed 8%. The authorization is in addition to $4 billion in existing approved share repurchases, the company said.
AMD increases existing stock repurchase authorisation by $6 billion. The AI chips giant has signed a multi-year deal with Saudi Arabia.
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Advanced Micro Devices (NASDAQ: AMD) Live: Stock Soaring Higher Pre-MarketThe Advanced Micro Devices (NASDAQ: AMD) stock is set to open even higher when markets open today. At the moment, shares of AMD are up about 3.3%, or $3.74. That’s because of two key catalysts. First,
Advanced Micro Devices (NASDAQ:AMD) just scored a huge win with a $10 billion, multi-year deal to power Saudi Arabia's new HUMAIN AI hub with 500 megawatts of its chips and accelerators. Investors cheered,
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