Nvidia, AMD, Qualcomm Soar as Saudi AI Firm Humain Announces Massive Data Center Expansion

Tech giants brace for supply chain frenzy as Middle Eastern AI ambitions hit hyperdrive.

The Silicon Shakeup

Humain's data center buildout isn't just another infrastructure project—it's a full-scale assault on global AI dominance. Nvidia's H100 chips will face unprecedented demand, AMD's Instinct accelerators are poised for record orders, and Qualcomm's AI edge solutions just found their desert oasis.

Wall Street's predictable 'but the valuations' chorus misses the point entirely—this isn't about P/E ratios, it's about planting flags on the AI frontier. While analysts crunch numbers, Saudi visionaries are building the computational foundations for the next decade.

The real story? Geographic diversification of AI power away from traditional tech hubs. When the sand settles, the chip shortage might make 2024 look like a minor inconvenience.

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U.S. Chipmakers in Focus

Along with Nvidia, Humain is working with Advanced Micro Devices (AMD) under a $10 billion deal signed earlier this year to build AI infrastructure in Saudi Arabia. The agreement could lead to a joint venture, giving AMD an equity stake in a Saudi fund.

Humain has also partnered with Groq Inc., a California-based AI chip company, to power its new chatbot called Humain Chat. The service is already live in Saudi Arabia and will roll out to the wider Middle East in October.

Beyond Groq, Humain has drawn in big U.S. tech names as partners, including Qualcomm (QCOM) and Cisco (CSCO). Reportedly, the company has also held early talks with Elon Musk’s xAI about a potential data center project in Saudi Arabia.

Saudi Arabia Expands AI Ambitions

Humain, backed by Saudi Arabia’s sovereign wealth fund, was launched in May during President Donald Trump’s visit to Riyadh. That visit helped clear the way for the kingdom to gain wider access to advanced U.S. semiconductors.

The company plans to build 1.9 gigawatts of data center capacity by 2030, part of its goal to make Saudi Arabia a leading hub for artificial intelligence in the region.

Alongside this, Humain Ventures, a $10 billion fund created this summer, has already begun investing, though Amin did not share details on which companies or projects have received funding so far.

Which Semiconductor Stock Is the Better Buy?

We used the TipRanks Stock Comparison Tool to see how Wall Street views AMD, Nvidia, Qualcomm, and Cisco. Currently, analysts are most bullish on Nvidia, which carries a Strong Buy consensus rating and an average price target of $199.94, implying about 11% upside.

Meanwhile, AMD, Qualcomm, and Cisco all hold a Moderate Buy rating. Among these, Qualcomm offers the highest upside potential at 14.4%, followed by Cisco at 13.1%, and AMD at 12.6% over the next 12 months.