Nvidia Stock Surges on UAE AI Chip Deal Approval

Nvidia shares climbed 2.20% to $189.11 after U.S. authorities approved a landmark AI chip export deal with the United Arab Emirates. The agreement, part of a broader bilateral tech partnership, allows the UAE to import up to 500,000 advanced Nvidia chips annually starting in 2025.

The Commerce Department's greenlight follows a May pact between Washington and Abu Dhabi, signaling strengthened high-tech collaboration with Gulf allies. In exchange for chip access, the UAE committed to proportional investments in U.S. technology ventures.

Pre-market trading saw shares rise to $190.47 as investors bet on Nvidia's expanding geopolitical footprint in AI infrastructure. The deal's initial term runs through 2027, with potential extension to 2030 based on performance metrics.