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During his official trip to Saudi Arabia, President Donald Trump was accompanied by a group of tech entrepreneurs, including Tesla CEO Elon Musk, OpenAI CEO Sam Altman, AMD CEO Lisa Su, and Nvidia CEO Jensen Huang. The U.S. and Saudi Arabia have reached a significant trade deal valued at $600 billion, which includes the sale of more than 18,000 Nvidia Blackwell chips.
Upon hearing about the deal, Nvidia shareholders quickly rushed to purchase Nvidia stock, resulting in an increase of Huang’s personal fortune by $12 billion in just a few hours.
A breath of fresh air. The deal is providing a welcome respite following weeks of uncertainty amid Trump’s tariff war. “AI, like electricity and Internet, is essential infrastructure for every nation. Together with Humain, we are building AI infrastructure for the people and companies of Saudi Arabia to realize the bold vision of the Kingdom,” Huang said after signing the deal.
According to Nvidia, the agreement outlines an initial phase that involves supplying 18,000 GB300 Grace Blackwell AI processors. These chips are intended to enhance Saudi Arabia’s data centers, supporting the country’s technology infrastructure. They’ll also accelerate its digital transformation as part of the Vision 2030 initiative. This plan aims to reduce Saudi Arabia’s reliance on its oil and gas sectors and includes the development of NEOM, a futuristic urban project.
Humain. Nvidia’s key partner in this venture is Humain, a state-owned AI company in Saudi Arabia. The company is backed by the Saudi kingdom’s Public Investment Fund, which is also financing the extensive NEOM project.
Tareq Amin, a former executive at Aramco Digital, leads the company. Humain was established with the goal of creating proprietary AI technology and has the full support of Crown Prince Mohammed bin Salman.
The partnership with Nvidia marks Humain’s first significant step toward realizing its vision. It also represents a substantial investment opportunity for Nvidia, opening access to a rapidly growing market for its AI chips.
Good news for investors. According to CNBC, the new deal has had an immediate and positive impact on Nvidia’s share price. After the announcement, Nvidia’s shares rose by 6% in a single session. They’ve continued to trend upward, increasing by 16.78% over the last few days.
Nvidia’s stock seems to be recovering. It’s gone up by 37% since hitting a low in April 2025, following uncertainty caused by U.S. tariffs on China. Analysts at Bank of America estimate the total value of the deal to be $7 billion. When combined with expected chip sales to the United Arab Emirates, the deal has renewed optimism among the company’s investors.
Good news for Huang. Thanks to the favorable response from Nvidia’s shareholders, the Nvidia CEO’s net worth increased by $12 billion in just a few hours. This marks the largest single-day gain ever for a tech executive, who controls 3.5% of Nvidia shares.
This surge in his fortune places Huang very close to the top 10 wealthiest individuals globally. With an estimated net worth of $118.2 billion, he’s the world’s 11th richest person. According to Forbes, Huang is just behind Inditex founder Amancio Ortega, Google founders Sergey Brin and Larry Page, and former Microsoft CEO Steve Ballmer.
Image | Nvidia
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