A partnership between Nvidia and Saudi Arabia’s HUMAIN, which was announced during the Saudi Arabia-US Investment Forum in Riyadh, has ensured the US tech firm’s market capitalisation increase to more than cross $3 trillion on Tuesday.
The announced coincided with the four-day visit of US President Donald Trump to the Kingdom and other GCC countries as the stocks of Nvidia shot up nearly 6% to close around $130 per share and the surge in share prices put Nvidia’s market capitalisation to $3.2 trillion, the first time after February 28 this year.
As part of the deal with HUMAIN to establish AI factories in the Kingdom, an AI subsidiary of Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF), Nvidia will sell HUMAIN advanced GPUs over the next five years, starting with an AI supercomputer powered by 18,000 GB300 chips.
Nvidia, the world leader in AI computing infrastructure, to drive the next wave of artificial intelligence development, joined the $3 trillion club for the first time in June last year and touched $3.66 trillion at the beginning of this year.
However, the company lost about $1.3 trillion in value between early January and early April due to volatile market conditions after the US President announced trade tariffs with China. The stock has rebounded in the last month, driven higher by solid earnings reports from big tech and the White House’s softened stance on tariffs. Nvidia is set to report its first-quarter results on May 28.
Agreement with HUMAIN
HUMAIN and Nvidia will leverage NVIDIA platforms and expertise to establish Saudi Arabia as a global leader in AI, GPU cloud computing and digital transformation to drive innovation and growth worldwide.
The partnership also underscores HUMAIN’s mission to position Saudi Arabia as an international AI powerhouse — combining cutting-edge infrastructure, frontier AI models, immersive digital platforms and human capital development.
HUMAIN is making a major investment to build AI factories in Saudi Arabia with a projected capacity of up to 500 MW powered by several hundred thousand of NVIDIA’s most advanced GPUs over the next five years. The first phase of deployment will be an 18,000 NVIDIA GB300 Grace Blackwell AI supercomputer with NVIDIA InfiniBand networking.
NVIDIA founder and CEO Jensen Huang said that the effort will harness sovereign AI infrastructure and expertise to propel Saudi Arabia to the ranks of global hyperscale AI leaders.
He said that AI, like electricity and internet, is essential infrastructure for every nation and together with HUMAIN, Nvidia is building AI infrastructure for the people and companies of Saudi Arabia to realize the bold vision of the Kingdom.
HUMAIN’s newly-appointed CEO Tareq Amin said that the partnership with NVIDIA is a bold step forward in realising the Kingdom’s ambitions to lead in AI and advanced digital infrastructure.
“Together, we are building the capacity, capability and a new globally enabled community to shape a future powered by intelligent technology and empowered people,” he said.
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