Nvidia shares have appreciated by 5.6% on May 13, after a landmark deal with Saudi Arabia. The artificial intelligence chipmaker announced a deal with Saudi Arabia’s AI company Humain. According to this deal, Nvidia will provide 18,000+ advanced AI chips to Saudi Arabia. This Nvidia-Humain agreement has significantly boosted Nvidia’s market value. As a result, CEO Jensen Huang’s net worth has also closed in on $120 billion.
Deal Announced During Trump’s Gulf Tour
This high-profile agreement was announced during U.S. President Donald Trump’s recent Gulf tour. The tour began in Saudi Arabia and will continue to the UAE later this week. According to the agreement, Nvidia will deliver 18,000 units of the GB300 Grace Blackwell AI chip to Saudi-based company Humain. Humain, an AI startup owned fully by Saudi Arabia’s Public Investment Fund, plans to use these state-of-the-art chips to power a data center. A massive 500-megawatt data center is in the works in Saudi Arabia. This move aligns with Saudi Arabia’s AI ambitions to become a global leader, according to the Vision 2030 initiative.
Humain, launched in 2024, will play a key role in Saudi Arabia’s Vision 2030 plan. According to this plan, Saudi Arabia will diversify its economy to avoid heavy reliance on oil and encourage innovation in AI and cloud computing. This partnership with Nvidia is a landmark deal for the Saudi kingdom’s ‘Project Transcendence.” This project aims to treat AI as a national utility, just like electricity and the internet.
Nvidia Stock Rises, Market Value Touches $3 Trillion
Following this announcement, the Nvidia shares closed at $129.93. This rise has pushed the company’s market cap to a whopping $3 trillion. This price rally shows market confidence in Nvidia, as it grows rapidly in the AI sector. The scramble for Nvidia stocks also underlines the global race for advanced semiconductor technology. This is further highlighted by national governments investing heavily in technological research. Industry experts have noted that Nvidia has a strategic advantage in AI chip manufacturing. Their expertise in high-performance GPUs has continued to set it apart from other competitors. Nvidia’s chips are now viewed as essential technology for nations that want to build strong artificial intelligence systems.
Jensen Huang’s Net Worth Gets A boost
The deal’s impact extended beyond corporate developments, also increasing CEO Jensen Huang’s net worth. Huang’s net worth soared to around $120 billion, up from $80 billion just a year ago. This rise places him among the world’s ten richest individuals according to Forbes’ real-time billionaires list. Huang, who co-founded Nvidia and holds nearly 3% of its shares, has been instrumental in transforming the company into a global tech powerhouse. His leadership has driven Nvidia from a graphics card manufacturer to the pioneer of AI innovation. Its chips now power everything from data centers to autonomous vehicles and advanced robotics.
Broader AI Investment Wave in the Gulf as Nations Scramble for AI Development
The Nvidia-Humain deal is part of the wave of AI investments announced during President Trump’s Gulf tour. Other major U.S. tech firms like AMD, Amazon, Cisco, and OpenAI have revealed multi-billion-dollar plans to partner with Gulf nations on AI infrastructure and data centers. Saudi Arabia and the UAE are both in a race to attract foreign investment and position themselves as regional hubs for AI and digital innovation. As the global demand for AI chips intensifies, Nvidia’s latest partnership underscores the company’s pivotal role in shaping the future of technology and cements Jensen Huang’s status as one of the world’s most influential tech leaders.
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