The Trump administration is weighing a deal that would allow the United Arab Emirates to import more than a million advanced Nvidia (NVDA) chips, Mackenzie Hawkins, Jenny Leonard and Ben Bartenstein of Bloomberg report, citing people familiar with the matter. The deal, which is still being negotiated, would let the UAE import 500,000 of the most advanced chips on the market each year from now to 2027, sources told Bloomberg. One-fifth would be set aside for the Abu Dhabi AI firm G42, while the remainder would go to U.S. companies building data centers in the nation, according to the people. Shares of Nvidia are up 6% to $129.91 in midday trading.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVDA:
- Trump weighs allowing UAE to buy over 1M Nvidia chips, Bloomberg says
- Nvidia, HUMAIN partner to build AI factories in Saudi Arabia
- Early notable gainers among liquid option names on May 13th
- Notable open interest changes for May 13th
- ‘Huge Win for Bulls,’ Wedbush’s Ives Cheers US-China Trade Breakthrough