The Rundown Nvidia Secures Massive AI Chip Deal with Saudi Arabia, Chime Files for IPO
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May 14, 2025 A landmark deal sees NVIDIA sell 18,000 AI chips to Saudi Arabia, enhancing its AI infrastructure as part of a broader economic diversification strategy. The podcast explores the kingdom's investments in sports and entertainment, alongside an innovative AI tool for personalized investing. Meanwhile, Chime's IPO showcases its fintech growth potential. Financial contrasts are drawn between Sony's successful stock moves and American Eagle's struggles, with insights on the upcoming ESPN streaming app and a new Disney subscription bundle.
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NVIDIA-Saudi AI Chip Deal
- NVIDIA's deal to supply Saudi Arabia with 18,000 Blackwell AI chips marks a major step in Saudi Arabia's AI ambitions.
- This initial sale is just a start, with plans for several hundred thousand chips over five years, showing aggressive growth potential.
Saudi Arabia's AI Diversification
- Saudi Arabia aims to diversify from oil by becoming a global AI hub, leveraging big investments in AI infrastructure.
- Partnering with NVIDIA gives them a critical technological edge and global market presence.
NVIDIA CEO's Riyadh Announcement
- NVIDIA CEO Jensen Huang announced the AI chip deal personally at a high-profile forum in Riyadh.
- The forum featured billionaires and industry giants, highlighting the deal's significance.