China’s COMAC Seeks to Enter Saudi Aviation Market

A model of a Chinese-made COMAC (C919) aircraft at the company’s pavilion at the Future Aviation Forum in Riyadh. (Photo: Turky Al-Agili)
A model of a Chinese-made COMAC (C919) aircraft at the company’s pavilion at the Future Aviation Forum in Riyadh. (Photo: Turky Al-Agili)
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China’s COMAC Seeks to Enter Saudi Aviation Market

A model of a Chinese-made COMAC (C919) aircraft at the company’s pavilion at the Future Aviation Forum in Riyadh. (Photo: Turky Al-Agili)
A model of a Chinese-made COMAC (C919) aircraft at the company’s pavilion at the Future Aviation Forum in Riyadh. (Photo: Turky Al-Agili)

Chinese aircraft manufacturer COMAC, which launched its first international flights in February, expressed its desire to enter the Saudi aviation market and contribute to supporting the country’s ambition to be a global aviation hub.

COMAC Chairman He Dongfeng stressed that the COMAC cargo aircraft can connect Saudi Arabia with markets in the region, as well as in North Africa and neighboring Asian countries.

Speaking during a panel discussion, “A special conversation with the Commercial Aircraft Company about future growth plans and current trends,” on the second day of the Future Aviation Forum, he said that the Chinese government-owned company is working according to a comprehensive three-year strategy that aims to reduce carbon emissions.

COMAC, which was established in 2008, launched its first ever commercial flights during the month of May 2023, and then announced its intention to produce 150 C919 aircraft annually within five years, adding that it has already obtained more than 1,200 orders from local companies.

The C919 aircraft carries less than 200 passengers, and is the first locally manufactured passenger aircraft of this size. The Chinese company said that it began developing the airplane 15 years ago, to compete with the narrow-body Airbus A320neo and Boeing 737 aircraft.

COMAC began its first production lines at a time when the two giants of the aircraft industry, Boeing and Airbus, are facing challenges related to meeting the delivery of aircraft on time, and others related to the shortage of supplies of engines and semiconductors.



Nvidia Shares Rise on News of AI Factory for Elon Musk

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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Nvidia Shares Rise on News of AI Factory for Elon Musk

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Nvidia shares gained 3% before the bell on Thursday, set to extend the semiconductor bellwether’s lead as the world’s most valuable company, after partners Dell and Super Micro Computer received server orders for Elon Musk’s AI startup.
Nvidia, whose market capitalization surpassed that of Microsoft on Tuesday, was set to add more than $92 billion to its market value of $3.34 trillion at $139.35, compared with Microsoft’s $3.32 trillion, according to Reuters.
Dell Technologies and Super Micro Computer gained 3.8% and 4.8%, respectively.
The companies make servers equipped with Nvidia chips, enabling them to capitalize on the surging demand for processors that power virtually all AI applications.
Musk said on his X social media platform on Wednesday that Dell and Super Micro are supplying server racks for xAI’s supercomputer, which will be used to expand the capabilities of its AI tool, Grok.
He said earlier this year that training the Grok 2 model took about 20,000 Nvidia H100 graphic processing units and that the Grok 3 model and beyond would require 100,000 Nvidia H100 chips.
“While Microsoft both spends and makes money in AI, Nvidia only makes money and lots of money and profits in AI. That’s why you cannot spell Nvidia without AI,” said Jake Dollarhide, chief executive officer, Longbow Asset Management.
Nvidia’s stock price has nearly tripled so far this year, powering the gains in the broader market. Super Micro shares have more than tripled in value during the same period, while Dell’s stock is up nearly 95%.
The Philadelphia SE Semiconductor Index has risen nearly 34% since the most recent low in April and closed at a lifetime high on Tuesday.