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SDAIA, NVIDIA Presidents Discuss Computing Power Infrastructure in Saudi Arabia

President of the Saudi Data and AI Authority (SDAIA)met on Sunday with Founder, President and CEO of NVIDIA in Riyadh - SPA
President of the Saudi Data and AI Authority (SDAIA)met on Sunday with Founder, President and CEO of NVIDIA in Riyadh - SPA
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SDAIA, NVIDIA Presidents Discuss Computing Power Infrastructure in Saudi Arabia

President of the Saudi Data and AI Authority (SDAIA)met on Sunday with Founder, President and CEO of NVIDIA in Riyadh - SPA
President of the Saudi Data and AI Authority (SDAIA)met on Sunday with Founder, President and CEO of NVIDIA in Riyadh - SPA

President of the Saudi Data and AI Authority (SDAIA) Dr. Abdullah bin Sharaf Alghamdi welcomed on Sunday the Founder, President and CEO of NVIDIA, Jensen Huang, at the authority’s headquarters in Riyadh.
During the meeting, Alghamdi and Huang discussed areas of mutual cooperation between SDAIA and NVIDIA, particularly in technological projects and exchange of expertise in the fields of data and artificial intelligence.
They also explored the latest developments in data and AI worldwide and highlighted NVIDIA's participation in the Global Smart City Forum (GSCF 2024) organized by SDAIA in Riyadh on February 12 and 13, SPA reported.
The meeting reflects ongoing cooperation between SDAIA and NVIDIA, especially in launching a multi-year program to establish a high-performance supercomputing platform in the Kingdom.
The platform will contribute to the development of various AI-supported applications in language technology and computer vision, helping to achieve the aspirations of AI adoption in the Kingdom.

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Nvidia’s Market Value Tops $4 Trillion

Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
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Nvidia’s Market Value Tops $4 Trillion

Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)

Nvidia's stock market value ended the trading session above $4 trillion for the first time on Thursday, solidifying the chipmaker's position as Wall Street's central player in a race to dominate AI technology.

Shares of Nvidia ended up 0.75% at $164.10, giving it a market value of $4.004 trillion and extending its lead over Apple and Microsoft as it benefits from a surge in demand for artificial-intelligence technologies.

Nvidia's stock market value briefly peaked above $4 trillion on Wednesday before closing at about $3.97 trillion. It is worth more than the combined value of all publicly listed companies in the UK.

Nvidia's high-end processors are at the center of a race between Microsoft, Amazon, Alphabet, Meta Platforms and other Wall Street heavyweights to build AI data centers and dominate the emerging technology.

Nvidia is also exposed to conflict between Washington and Beijing over trade, including restrictions on exports to China of its most powerful chips.

"Trade tensions and tariffs are a risk, as is competition. Greater AI adoption could shift part of the demand toward cheaper alternatives," Swissquote Bank senior analyst Ipek Ozkardeskaya wrote in a client note.

Nvidia achieved a $1 trillion market value for the first time in June 2023 and tripled it in about a year, faster than Apple and Microsoft, the only other US firms with market values above $3 trillion.

Microsoft is the second most valuable US company, with a market capitalization of $3.73 trillion. Its shares dipped 0.4% on Thursday.

Apple's stock has tumbled 15% so far in 2025, leaving its market value at $3.17 trillion, reflecting investor worries that the iPhone maker has been slow to introduce AI into its products and services.

Even after its meteoric rally, Nvidia's stock is valued at about 33 times expected earnings, below its five-year average of 41, according to LSEG.