The Top Tech Stock Winners From Trump's $600 Billion Saudi Arabian Deal
Following a visit to Saudi Arabia last week, President Donald Trump announced that the kingdom has pledged to invest $600 billion in deals with U.S. companies. The agreement includes $142 billion in defense sales to help supply the country with "state-of-the-art warfighting equipment." However, the two biggest winners are U.S. chipmakers Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD). Following Trump's announcement, both companies revealed deals to provide chips to Humain, a Saudi Arabian artificial intelligence (AI) start-up owned by the kingdom's public investment fund.Image source: Getty Images.Continue reading
Following a visit to Saudi Arabia last week, President Donald Trump announced that the kingdom has pledged to invest $600 billion in deals with U.S. companies. The agreement includes $142 billion in defense sales to help supply the country with "state-of-the-art warfighting equipment."
However, the two biggest winners are U.S. chipmakers Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD). Following Trump's announcement, both companies revealed deals to provide chips to Humain, a Saudi Arabian artificial intelligence (AI) start-up owned by the kingdom's public investment fund.
Image source: Getty Images.
