Nvidia (NVDA) Stock Price & Analysis: Saudi Crown Prince Bets Big on AI Chip Giant
TLDR:
- Nvidia stock jumped over 4%, contributing to a 15% rally over five days
- Saudi Arabia’s Humain AI venture will purchase several hundred thousand Nvidia chips over five years, valued at around $7 billion
- Trump administration is moving to rescind Biden-era export restrictions on AI chips
- Nvidia stock has recovered 56% from its April low of $87 to $135
- The Saudi deal starts with 18,000 Blackwell chips and could help offset concerns about AI spending sustainability
Nvidia stock is on a hot streak, jumping over 4% on Wednesday as part of a 15% rally over the past five days. This puts the AI chip giant back in positive territory for the year after a rocky start to 2025.
The gains come as US chipmakers, including Nvidia,…
