The top firm will open up a base later this year in the Gulf kingdom, senior sources close to the Saudi government said.

Trump said during his trip to Saudi Arabia he wants the Gulf kingdom to join the Abraham Accords and normalize diplomatic relations with Israel.

President Trump is visiting Qatar and the U.A.E. after inking big weapons and tech deals in Saudi Arabia. So far, his trip hasn't seemed to push forward chances for a ceasefire in Gaza.

For even as the Gulf reorients its energy flows eastward, it remains deeply tied to US finance, the US military industry and US assets. In an era of weakening US global power – and the possible spectre of a deeper clash with China – this is what will define Trump’s visit.

Although during President Trump's regional tour there have been no major breakthroughs, such as a defense pact or nuclear energy deal, new avenues for AI cooperation between US companies and Gulf partners will be causing some uneasiness in Beijing.

Saudi Arabia's benchmark stock index ended slightly lower on Thursday, weighed down by a fall in oil prices on expectations for a U.S.-Iran nuclear deal, while a surprise build in U.S. crude oil inventories last week heightened investor concerns about oversupply.

It’s no surprise Elon Musk is joining Trump on his Arabian jaunt. His businesses have been lapping up gulf money for years.

In a geopolitical chess game with billions at stake, Saudi Arabia, the U.S. and Nvidia all have something to gain.

The announcements follow reports that the US administration intends to facilitate AI chip deals between American firms and Gulf nations.

President Trump is touring three of the Middle East's wealthiest monarchies. They are giving him a reception fit for an admirer of kings.