Bank of America increases the price objectives on NVIDIA, AMD after the Saudi offers for Trump visits

Bank of America sees more space for the actions of Nvidia and Advanced Micro Devices to manage after the INKE technological companies have agreements with a subsidiary of the public investment fund of Saudi Arabia. Analyst Vivek Arya has increased its NVIDIA price target from $ 10 to $ 160, which now implies 23.1% of Tuesday's closure. Arya has also added $ 10 to her course target for AMD, with the refreshment estimate of $ 130 suggesting that shares can jump by 15.6%. The analyst has cited companies announcing each of the multi -year projects linked to an artificial intelligence infrastructure with a Saudi subsidiary called human. Bank of America plans that these projects cost between $ 3 and $ 5 billion per year, which is equivalent to a range of $ 20 billion to $ 20 billion over several years. "Sovereign AI completes the investments of the commercial cloud by emphasizing the training and inference of LLM in culture, language and local needs," Arya told customers. Arya also noted that sovereign AI can help limited energy availability for data centers in the United States, NVIDIA and AMD increased by more than 2% in Wednesday market trading. These transactions intervene as President Donald Trump's team has courted the country in the Middle East. The White House announced on Tuesday the commitment of Saudi Arabia to invest $ 600 billion through several trade agreements with the United States Trump at an investment conference in the country and met the Saudi Crown Prince Mohammed Bin Salman. Several technological CEOs, including Jensen Huang de Nvidia, who have announced an agreement to sell the kingdom more than 18,000 of his chips Ai Blackwell, also attended the investment forum.