Saudi Arabia and the UAE Buy Chips to Support Artificial Intelligence

According to the "Financial Times," citing private sources, there is extremely high demand for graphics processing units from Nvidia, as Saudi Arabia and the UAE have purchased thousands of the company’s chips to build artificial intelligence programs. Saudi Arabia has bought at least 3,000 H100 chips from Nvidia, while the UAE, which has also begun working on its large language model "Falcon," secured thousands of the company’s chips, according to the report reviewed by "Al Arabiya.net." This news comes as Nvidia shares rose by more than 7% during Monday's session after Morgan Stanley stated that there is an investment opportunity to buy shares of the chipmaker. Nvidia's shares have increased by over 200% since the beginning of the year, raising the company’s market value above one trillion dollars.