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U.S. Approves Nvidia’s AI Chip Deal with UAE, Potentially Boosting Stock
U.S. Approves Nvidia’s AI Chip Deal with UAE, Potentially Boosting Stock
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BTCCSquare news:
Nvidia's stock received a notable uplift following U.S. approval to export advanced AI chips to the United Arab Emirates. The deal, part of a broader trade agreement, allows the UAE to purchase up to 500,000 Nvidia processors annually in exchange for a $1.4 trillion investment commitment in the U.S. over the next decade.
While the chips are earmarked for American companies operating data centers in the UAE, the authorization alleviates concerns stemming from recent restrictions on Nvidia's sales in China. The company's shares ROSE over 2% in morning trading, reflecting investor confidence in its global market strategy.
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