From Yahoo Finance: 2025-05-18 07:01:00

US President Donald Trump wrapped up his Middle East tour, finalizing deals with Saudi Arabia, Qatar, and the UAE. In the UAE, a significant AI agreement was signed for a data center project, marking a step towards becoming a global AI hub. Trump also pledged to strengthen ties with over $200 billion in deals.

The UAE and US agreed on a partnership for AI development, launching a 5GW AI campus, the largest outside the US. American companies will operate data centers with cloud services in the UAE. The agreement includes security guarantees for US technology. No specific AI chips were mentioned.

Advanced Micro Devices (AMD) saw its price target raised to $130 per share after a deal with Saudi startup Humain. Humain committed $10 billion to the project, boosting AMD’s stock. The company also authorized $6 billion in share buybacks. AMD ranks 6th on the list of trending AI stocks, but some AI stocks may offer higher returns.

Read more: Advanced Micro Devices (AMD) Price Target Raised as Saudi AI Deal Boosts Sentiment