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Shares of Nvidia (NASDAQ:NVDA) jumped more than 6% Tuesday after the chipmaker struck a deal with Saudi Arabia's AI firm Humain to help build a large-scale data center powered by Nvidia hardware.
The project, part of the country's broader push into artificial intelligence, is set to use hundreds of thousands of Nvidia GPUs over the next five years. The first phase includes deployment of 18,000 Grace Blackwell GB300 superchips connected via Nvidia InfiniBand networking.
Nvidia CEO Jensen Huang said the partnership aims to help Saudi Arabia advance its national AI strategy. The facility is expected to handle workloads requiring up to 500 megawatts of capacity.
Advanced Micro Devices (NASDAQ:AMD) rose more than 2%, supported by investor optimism tied to Nvidia's move. AMD is also involved in an $80 billion tech consortium investing across the U.S. and Saudi Arabia, according to the White House.
Intel (NASDAQ:INTC) climbed more than 2% after CFO David Zinsner reaffirmed the company's goal of breaking even in its foundry business by 2027.
Silicon Laboratories (NASDAQ:SLAB) added 1.5% after issuing upbeat Q1 earnings and guidance.
Other semiconductor names including Broadcom (NASDAQ:AVGO), Micron (NASDAQ:MU), Qualcomm (NASDAQ:QCOM), Texas Instruments (NASDAQ:TXN), Analog Devices (ADI) and ON Semiconductor (NASDAQ:ON) also advanced.
This article first appeared on GuruFocus.