Nvidia (NVDA) jumps 6% in the Saudi chip deal; The CEO net assets costs 120 billion US dollars

The shares of NVIDIA (NVDA, Financials) rose on Tuesday, after the chip maker had secured a large AI hardware deal in Saudi Arabia, increased its market evaluation to 3 trillion US dollars and hire CEO Jensen Huang. The shares closed at $ 129.93 and an increase of 5.6%after the company will sell hundreds of thousands of AI processors to Saudi Arabia. Many of the chips are assigned to a AI startup, which is financed by Saudi -Arabia's sovereign wealth find. The announcement took place during the golf visit by US President Donald Trump, who started in Riyadh and later comprises a stopover in the United Arab Emirates this week. According to Forbes, Huang's assets rose to around $ 120 billion compared to $ 80 billion in the previous year. He only stays outside the ten richest people worldwide. The deal reflects a strong worldwide demand for Nvidia high-performance chips and consolidates its leadership in the AI ​​hardware area. It also combines Nvidia's growth with geopolitical relationships in the Middle East. After the continued tour of Trump, investors will pay attention to additional regional offers and political results and expand the global expenses for the AI ​​infrastructure.

This article first appeared on Gurufocus.