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Saudi Arabia is set to emerge as a global leader in AI technology through a strategic partnership with NVIDIA, focused on establishing AI infrastructure across the nation. This collaboration aims to build AI factories powered by NVIDIA’s advanced GPUs, with a projected capacity of up to 500 megawatts over the next five years. Key initiatives include the deployment of an NVIDIA Omniverse Cloud for simulating AI solutions with digital twins and the establishment of a sovereign AI factory with 5,000 Blackwell GPUs. Additionally, thousands of developers will be trained to tackle complex challenges in AI and accelerated computing, aligning with Saudi Vision 2030's objectives of economic diversification and digital leadership.

• NVIDIA last closed at $129.93 up 5.6%.

In other trading, First Solar was a standout up 22.7% and ending trading at $191.60. In the meantime, TongweiLtd softened, down 3.1% to end trading at CN¥17.79.

NVIDIA's focus on AI scaling through Blackwell architecture could rapidly impact growth across key sectors. Explore our detailed narrative on NVIDIA to see how this opportunity could evolve.

Don't miss our Market Insights article, "Investing In Innovation to Beat Stagflation," which discusses how AI chip innovations offer opportunities in uncertain markets—read it now to stay ahead!

Best AI Chip Stocks

• Advanced Micro Devices closed at $112.46 up 4%. This week, AMD announced a $10 billion partnership with HUMAIN to create a global AI infrastructure, launched EPYC 4005 Series processors for enterprise solutions, and highlighted a collaboration with CyberLink to enhance AI PC performance.

• ASML Holding closed at €683.70 up 2.5%.

• QUALCOMM closed at $151.34 down 0.5%. This month, Qualcomm extended the deadline to announce a firm offer for Alphawave to 27 May 2025 amid ongoing acquisition discussions.

Next Steps

• Reveal the 53 hidden gems, such as Advantest, SK hynix and Skyworks Solutions, among our AI Chip Stocks screener with a single click here.

• Ready For A Different Approach? AI is about to change healthcare. These 24 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.