Nvidia leaped back into the vaunted $3 trillion club on Tuesday as its stock shot up following the announcement of a major sale to a state-backed Saudi Arabian AI company.

Humain and Nvidia have signed a deal for a 500-megawatt AI data center in Saudi Arabia. The deal was announced during the Saudi-US investment forum. Humain

Under agreements with the US expected to be unveiled in coming days, Saudi Arabia and the UAE are poised to win wider access to advanced AI chips from Nvidia and AMD that are considered the gold

The deals served as the coming out party for Humain, a state-backed artificial intelligence (AI) company that operates under the Kingdom’s Public Investment Fund (PIF) and is chaired by Crown Prince Mohammed bin Salman. The company is part of Saudi Arabia’s Vision 2030 strategy to diversify the Saudi economy away from just oil sales.

U.S. tech giants including Nvidia, AMD, and Qualcomm have signed major AI deals with Saudi Arabia's new startup Humain, backed by the kingdom's sovereign wealth fund. The agreements coincide with former President Donald Trump securing $600 billion in investment commitments during his Middle East tour.

Live Updates Live Coverage Has Ended Stocks Making the Biggest Moves: Nvidia 2:01 pm Nvidia (NASDAQ: NVDA) is still on fire. All on news it will sell more than 18,000 AI chips to Saudi Arabian company Humain for its 500-megawatt data center.

Shares of Nvidia and other semiconductor stocks surged Tuesday amid optimism about new partnerships and trade deals.

Nvidia’s shares soared amid billions of dollars in artificial intelligence investment deals made between US President Donald Trump and Saudi Arabia’s Crown Prince Mohammed bin Salman, as the Trump administration deepens ties with the wealthy Middle Eastern nation.