Saudi, UAE snap up 'thousands' of Nvidia chips as AI race heats up: FT
Investing.com | Author Yasin Ebrahim
Published Aug 14, 2023 04:33PM ET
Investing.com -- Nvidia's graphics processing units are in high demand as Saudi Arabia and the United Arab Emirates snapped up thousands of its chips to build artificial intelligence software, the Financial Times reported Monday, citing unnamed sources.
Saudi Arabia purchased at least 3,000 of Nvidia's H100 chips, and the UAE, which has also begun work on its own large language model, Falcon, has also secured access to thousands of Nvidia chips, according to the report.
Nvidia declined to comment.
The news comes just as NVIDIA Corporation (NASDAQ:NVDA) closed out the session Monday, with a more than 7% increase after Morgan Stanley said the recent dip in the chipmaker was a buying opportunity.
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