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Oracle CDR (CAD Hedged)
Symbol ORAC
Shares Issued 300,000
Close 2025-02-28 C$ 58.89
Market Cap C$ 17,667,000
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Globe/wire say Nvidia, Advanced Micro secure AI deals

2025-05-14 07:30 ET - In the News

See In the News (C-NVDA) Nvidia CDR (CAD Hedged)

The Globe and Mail reports in its Wednesday, May 14, edition that several U.S. tech firms announced artificial intelligence deals in the Middle East on Tuesday, coinciding with President Donald Trump's $600-billion commitments from Saudi Arabia to U.S. companies. A Reuters dispatch to The Globe reports that notably, Nvidia plans to sell hundreds of thousands of AI chips, starting with 18,000 "Blackwell" chips to Humain, an AI start-up backed by Saudi Arabia's sovereign wealth fund. Advanced Micro Devices also announced a deal with Humain, saying it has formed a $10-billion collaboration. Mr. Trump began his Gulf tour on Tuesday, kicking it off with the signing of a strategic economic agreement with Saudi Arabia as the oil power rolled out the red carpet. Mr. Trump's Middle East visit aims to drum up trillions of dollars in investments. The deals will flow both ways. The White House said Saudi Arabian firm DataVolt will invest $20-billion in AI data centres and energy infrastructure in the United States. Alphabet's Google, DataVolt, Oracle Corp., Salesforce, Advanced Micro Devices and Uber will invest $80-billion in cutting-edge transformative technologies in both countries, the White House said, without giving details.

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