US May Approve Nvidia’s Chip Export to Saudi Arabia, Potentially Boosting AI Crypto Prices

Recent reports indicate that the US government is considering Nvidia’s proposal to export advanced chips to Saudi Arabia, a move that could potentially drive up the value of AI-related cryptocurrencies.

The chips in question would greatly enhance Saudi Arabia’s ability to develop and deploy sophisticated AI models. This topic has surfaced as a significant, though unofficial, point of discussion at the GAIN global AI summit hosted in Saudi Arabia.

According to a Reuters report, Saudi Arabia is keen on acquiring Nvidia’s latest AI chips, the H200s, and is working to meet US security requirements to speed up the purchase. This effort comes amid US attempts to limit China’s access to such advanced technologies, positioning Saudi Arabia strategically between these two global powers. While the Kingdom is focusing on US technology, it is also keeping options open with China if needed.

Despite a recent 15% drop in its stock price, Nvidia remains a strong player in the AI and data center markets, with high demand for its advanced GPUs and technologies like Hopper and Blackwell. This ongoing interest has sparked a rally in AI-related cryptocurrencies, reflecting growing investor confidence in the sector.

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Nvidia is set for potential growth as the AI revolution advances, showing bullish signs despite a currently neutral momentum. This suggests an opportunity for investors to benefit from Nvidia’s anticipated progress amid evolving market conditions.

Nvidia collaborates with global telecom companies to enhance network efficiency and customer experiences using AI solutions, while Qualcomm focuses on on-device AI to boost privacy and security by processing data directly on handsets. Earlier this year, the US canceled licenses for firms like Intel and Qualcomm to supply Huawei with chips for certain devices. However, Huawei’s upcoming Ascend 910C AI chip is expected to significantly influence its technology capabilities.

Alexander Stefanov