Nvidia (NVDA) stock climbs as a major AI partnership with Saudi Arabia and a $23 billion CoreWeave infrastructure plan drive bullish investor sentiment.

NVIDIA, a global leader in AI computing infrastructure, and HUMAIN, the newly formed AI arm of Saudi Arabia's Public Investment Fund, have announced a significant strategic partnership.

The deals served as the coming out party for Humain, a state-backed artificial intelligence (AI) company that operates under the Kingdom’s Public Investment Fund (PIF) and is chaired by Crown Prince Mohammed bin Salman. The company is part of Saudi Arabia’s Vision 2030 strategy to diversify the Saudi economy away from just oil sales.

Nvidia and other AI stocks climbed Wednesday, extending Tuesday's gains as Saudi partnerships stoked excitement for future deals.

Under agreements with the US expected to be unveiled in coming days, Saudi Arabia and the UAE are poised to win wider access to advanced AI chips from Nvidia and AMD that are considered the gold

Nvidia, AMD, AWS, and others struck $100 billion in AI deals this week, aiming to profit from cheaper power and faster access to the growing Middle Eastern market for IT services.

Nvidia stock jumped over 3% early Wednesday after the company and fellow chipmakers announced billions of dollars worth of AI deals with Saudi Arabia.

Nvidia Corporation's Saudi partnership signals potential easing of US chip export controls, supporting a bullish outlook despite recent trade turmoil. The HUMAIN deal cou