Overview

• Nvidia finalized a multi-year AI chip supply deal with Saudi Arabia's Humain, valued at $15–20 billion, supporting the country's Sovereign AI ambitions.
• The U.S. government officially rescinded Biden-era export restrictions on AI chips, reopening key markets for Nvidia and other U.S. chipmakers.
• Nvidia shares surged 15% this week, marking a 43% rebound from April lows, with Bank of America raising its price target to $160.
• The company announced plans for a Shanghai R&D center to address local market needs while ensuring core GPU designs and IP remain outside China.
• The U.S.-China trade détente, including a temporary tariff pause, further alleviated geopolitical pressures on Nvidia's business outlook.