Nvidia Flooded With AI Chip Orders From Oil-Rich Saudi Arabia, UAE In Race For Computational Sovereignty: Report
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) has received large orders for its AI chips from Saudi Arabia and UAE, with Saudi Arabia purchasing at least 3,000 of Nvidia's H100 chips, valued at $120 million by the end of 2023. The UAE has also secured thousands of Nvidia chips for its open-source large-language model, Falcon. Chinese tech companies Tencent Holdings Limited (OTC:TCEHY) and Alibaba Group Holding Limited (NYSE:BABA) are also reportedly interested in purchasing Nvidia's high-performance chips.
August 15, 2023 | 9:52 am
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POSITIVE IMPACT
Nvidia is experiencing high demand for its AI chips from Saudi Arabia, UAE, and potentially from Chinese tech companies Tencent and Alibaba.
The large orders from Saudi Arabia and UAE, as well as potential interest from Tencent and Alibaba, indicate a strong demand for Nvidia's AI chips. This could lead to increased revenues and a positive impact on the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Alibaba Group Holding Limited is reportedly interested in purchasing high-performance chips from Nvidia.
While Alibaba's interest in Nvidia's chips could potentially lead to increased revenues for Alibaba, the impact on Alibaba's stock price is uncertain at this time.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Tencent Holdings Limited is reportedly interested in purchasing high-performance chips from Nvidia.
While Tencent's interest in Nvidia's chips could potentially lead to increased revenues for Tencent, the impact on Tencent's stock price is uncertain at this time.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50