Two Key Developments Sparked a Rally for Nvidia Stock on Tuesday
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Nvidia's stock surged by up to 6.4% on Tuesday, driven by two significant developments. The Trump administration is reportedly considering a deal for a large-scale sale of AI chips to G42 in the UAE, potentially involving hundreds of thousands of GPUs. Additionally, Nvidia announced a partnership with Saudi Arabia's Humain to supply over 18,000 AI chips for a new data center. These moves follow the administration's decision to rescind the AI Diffusion Rule, easing concerns over stricter controls on GPU sales and presenting new growth opportunities for Nvidia.
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