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Saudi, UAE snap up 'thousands' of Nvidia chips as AI race heats up: FT

Investing.com -- Nvidia's graphics processing units are in high demand as Saudi Arabia and the United Arab Emirates snapped up thousands of its chips to build artificial intelligence software, the Financial Times reported Monday, citing unnamed sources.  

Saudi Arabia purchased at least 3,000 of Nvidia's H100 chips, and the UAE, which has also begun work on its own large language model, Falcon, has also secured access to thousands of Nvidia chips, according to the report.

Nvidia didn't immediately respond to Investing.com's request for comment. 

The news comes just as NVIDIA Corporation (NASDAQ:NVDA) closed out the session Monday, with a more than 7% increase after Morgan Stanley said the recent dip in the chipmaker was a buying opportunity.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.