The announcements follow reports that the US administration intends to facilitate AI chip deals between American firms and Gulf nations.

As part of the avalanche of business deals coming from President Trump’s Middle East tour, both AMD and Nvidia have struck multi-billion dollar deals with an emerging Saudi AI firm.

Humain, Saudi Arabia’s new artificial intelligence investment company, is teaming up with chipmaker Advanced Micro Devices Inc. to spend $10 billion on AI infrastructure over the next five years.