“`html
Key Announcement at U.S.–Saudi Investment Forum: On [date needed], tech billionaire Elon Musk and NVIDIA CEO Jensen Huang announced Saudi Arabia’s support for a groundbreaking AI project involving a hyperscale data center utilizing 600,000 GPUs from NVIDIA, marking a significant state-backed investment in AI infrastructure.
The project is expected to consume 500 megawatts of power from NVIDIA alone, with partners like Advanced Micro Devices Inc., Qualcomm Inc., and Cisco Systems Inc. contributing an additional 1 gigawatt of AI silicon and infrastructure by 2030.
This initiative reflects a larger trend where the U.S. government is investing in key technology sectors, highlighted by actions such as a 15% stake in MP Materials Corp. and a 10% stake in Intel Corp., which have led to stock surges exceeding 400% following federal support announcements.
“`
