(Combination) Picture portfolio (L) created on January 31, 2025 (L) NVIDIA CEO Jensen Huang spent a tough week on Wall Street in Las Vegas, Nevada on January 6, 2025.
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It's an excellent week for technology stocks due to global tensions and President Donald Trump's Middle East danger.
Tesla and Nvidia This week, it increased by 17% and 16% respectively due to tensions between the United States and China and tensions in Trump's Middle East Trading Tour.
Both China and the United States have announced a 90-day tariff suspension, a move that shows that the global trade war has been shaking the market since April.
During a visit to the Middle East this week led by the White House, NVIDIA CEO Jensen Huang shared plans to sell its Blackwell chips of more than 18,000 AI to the AI sold to Power Data Centers by Saudi Arabia-based Humain.
AMD It also said it will provide corruption chips. The stock exploded nearly 14% this week. Palantir and Taiwan Semiconductor Manufacturing It is one of other tech stocks that have soared more than 10%.
Tesla CEO Elon Musk is also in Saudi Arabia and said the kingdom has approved SpaceX's Starlink Satellite Internet Service for aviation and sea use. Musk also said he plans to bring the robot to the country.
In the United Arab Emirates, the White House announced a partnership with several U.S. companies to sweep AI campuses. Sources told CNBC that NVIDIA is one of the companies supporting the project.
The White House recently planned to dial China's bargaining export route from President Joe Biden's administration, which also benefited the industry with "much simpler rules."
Like many of its peers, NVIDIA needs permission to ship its AI chips to China because the U.S. began bankrupt exports in 2022 due to national security concerns.
Last month, NVIDIA said it would charge $5.5 billion from H20 GPU shipments to China, a key market for U.S. chipmakers. Huang told CNBC that China's AI market could reach $50 billion in the next two to three years, and missing out would be a "huge loss."