US government reportedly mulls allowing Nvidia chip exports to Saudi Arabia

Investing.comSep 11, 2024 7:20 PM

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Investing.com -- Nvidia jumped on Wednesday as the U.S. government is mulling whether to lift ban that would allow the chipmaker to export advanced chips to Saudi Arabia, Semafor reported, citing unnamed sources.

NVIDIA Corporation (NASDAQ:NVDA) was up more than 6% in recent trading.

The White House had restricted sales of some of Nvidia’s most advanced AI chips to the Middle East on concerns about China gaining access to the chipmaker's semiconductor hardware.

The sources told Semafor that Saudi Arabia is making efforts to comply with U.S. security requirements, paving the way for the country to speed up acquisitions of the Nvidia chips including the most advanced H200s chips.

Nvidia declined Semafor's request for comment.

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