Shares of semiconductor manufacturer AMD were up Wednesday after a big stock buyback authorization. Here's what that means.

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

Saudi Arabia’s Crown Prince Mohammed Bin Salman launched Humain to develop and manage artificial intelligence technologies.

Saudi Arabia launched a new state-backed AI company ahead of President Donald’s Trump state visit to the Kingdom.

Data center development deals feature prominently in the $600B in investment the Trump administration says it has secured from Saudi Arabia.

Humain's CEO Tareq Amin added that the agreement "marks a major milestone in our journey to build a global hub for AI infrastructure, which helps enable Qualcomm Technologies’ data center expansion, driving high-performance low-power computing and energy-efficient AI processing at scale.

With HUMAIN, the kingdom aims to lead in regional AI innovation, challenging global dominance with homegrown infrastructure and language models.

Advanced Micro Devices shares jumped Wednesday, as the chip designer said its board approved a fresh $6 billion share buyback program.

AMD and HUMAIN have partnered and launched a $10 billion initiative to boost AI. Takeaway Points AMD Partners with HUMAIN. The aim is to boost AI. HUMAIN will be in charge of end-to-end delivery, including hyperscale data centers and sustainable power systems.