Nvidia, AMD, AWS, and others struck $100 billion in AI deals this week, aiming to profit from cheaper power and faster access to the growing Middle Eastern market for IT services.

Shares of semiconductor manufacturer AMD were up Wednesday after a big stock buyback authorization. Here's what that means.

U.S. tech giants including Nvidia, AMD, and Qualcomm have signed major AI deals with Saudi Arabia's new startup Humain, backed by the kingdom's sovereign wealth fund. The agreements coincide with former President Donald Trump securing $600 billion in investment commitments during his Middle East tour.

Newly launched Saudi Arabian AI venture Humain plans to deploy 500MW of data center compute over the next five years featuring AMD hardware. Together, sovereign-backed Humain and AMD will invest $10 billion in the joint effort, which will see facilities built in both Saudi Arabia and the US.

Data center development deals feature prominently in the $600B in investment the Trump administration says it has secured from Saudi Arabia.

AMD said on Wednesday that its board of directors approved $6 billion in share buybacks. The stock climbed 8%. The authorization is in addition to $4 billion in existing approved share repurchases, the company said.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

Advanced Micro Devices (NASDAQ:AMD) just scored a huge win with a $10 billion, multi-year deal to power Saudi Arabia's new HUMAIN AI hub with 500 megawatts of its chips and accelerators. Investors cheered,