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SDAIA Signs MoC with Japanese Company NEC to Develop AI Solutions

SPA
SPA
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SDAIA Signs MoC with Japanese Company NEC to Develop AI Solutions

SPA
SPA

The Saudi Data and Artificial Intelligence Authority "SDAIA" signed a Memorandum of Cooperation (MoC) in the fields of artificial intelligence (AI), biometrics, and "Internet of Things" with the Japanese company NEC, during the Saudi-Japanese round table meeting, organized by the Ministry of Investment in Jeddah, in the presence of the Japanese Prime Minister Fumio Kishida during his visit to the Kingdom Sunday.

Deputy Director of the National Information Center in SDAIA Mashari bin Ibrahim Al-Mashari represented “SDAIA” in the signing of the MoC, and the Senior Vice President of the company NEC, Naoki Yoshida, on behalf of it, SPA reported.

The MoC aims to discuss opportunities of mutual interest between the two sides and support innovation and innovative solutions for a number of applications such as; smart and safe cities, health applications, and logistics applications.

The memorandum will strengthen the " SDAIA " efforts in efficiently experimenting with technical solutions, leading the national trend for data and artificial intelligence, and achieving Saudi Vision 2030 to promote the Kingdom to data-based economies and enabling initiatives related to data and artificial intelligence.

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Nvidia Insiders Sold over $1 billion in Stock amid Market Surge, FT Reports

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
TT
20
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Nvidia Insiders Sold over $1 billion in Stock amid Market Surge, FT Reports

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

Nvidia insiders sold over $1 billion worth of company stock in the past year, with a notable uptick in recent trading activity as executives capitalize on surging investor interest in artificial intelligence, the Financial Times reported on Sunday.

More than $500 million of the share sales took place this month as the California-based chip designer's share price climbed to an all-time high, the report said, according to Reuters.

Jensen Huang, Nvidia's chief executive, started selling shares this week for the first time since September, the SEC filing showed.

Nvidia's stock hit a record on Wednesday, and the chipmaker reclaimed the crown as the world's most valuable company after an analyst said the chipmaker was set to ride a "Golden Wave" of artificial intelligence.

Its latest gains reflect the US stock market's return to the "AI trade" that fueled massive gains in chip stocks and related technology companies in recent years on optimism about the emerging technology.

Nvidia declined to comment on the FT report.

Reuters could not immediately confirm the report.

Nvidia's shares have rebounded over 60% from their closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. US stocks, including Nvidia, have recovered on expectations the White House will reach trade deals to soften the tariffs.