Nvidia and other AI stocks climbed Wednesday, extending Tuesday's gains as Saudi partnerships stoked excitement for future deals.

The Trump administration is clearing a path for two key Persian Gulf allies to pursue their artificial intelligence ambitions - and some of the biggest US tech companies are seizing on that opening with plans to spend billions of dollars in the region.

NVIDIA (NasdaqGS:NVDA) recently formed a significant partnership with HUMAIN, marking a pivotal advancement in AI development. Over the last month, NVIDIA's stock price rose by 17%, primarily driven by this collaboration and other strategic initiatives,

Alongside the nebulous deal, Cisco said that it was extending its existing partnership with G42 to help deploy AI systems in the United Arab Emirates.

Other semiconductor stocks also did well Monday after Beijing and Washington agreed to drastically reduce tariffs for 90 days while talks on a more permanent deal continue.

A tech rally helped push the Nasdaq higher, with shares of AMD and Nvidia rising more than 4%. Alphabet (GOOGL, GOOG) ticked higher by over 3%, and shares of Super Micro Computer

Global AI, a US tech firm, plans to collaborate with a Saudi Arabian artificial intelligence venture, Humain, in an agreement expected to be worth billions of dollars, according to a person familiar with the mattter.