Wall Street Breakfast Big tech strikes oil
10 snips
May 14, 2025 AI and chip stocks are on the rise, driven by new collaborations between U.S. tech giants and Saudi Arabia. AMD announced a hefty $6 billion buyback, signaling confidence in the market. Meanwhile, Starbucks baristas are striking over a controversial dress code, highlighting worker rights. The podcast also delves into the Middle East's growing tech scene and features bold opinions on cryptocurrency, with one expert calling it 'rat poison.'
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Middle East AI Deals Boost Tech
- AI deals between US tech firms and Saudi Arabia represent a major growth opportunity.
- The Middle East could add $1 trillion to the global AI market in the coming years.
Middle East May Replace China
- The Middle East is emerging as a key AI hub, possibly replacing China amid US-China trade tensions.
- Countries there are shifting from fossil fuels to digital economies.
Big Tech Capital Moves
- AMD announced a $6 billion share buyback program to enhance shareholder value.
- Supermicro's $20 billion deal with Saudi firm DataVolt aims to accelerate AI infrastructure deployment.