Saudi Arabia, long viewed as a fountain of cash for the tech industry, has flipped the script, getting U.S. companies to fund its build-out of artificial intelligence. President Donald Trump announced hundreds of billions of dollars in deals when he visited Riyadh this week.

The announcements follow reports that the US administration intends to facilitate AI chip deals between American firms and Gulf nations.

Nvidia, AMD, AWS, and others struck $100 billion in AI deals this week, aiming to profit from cheaper power and faster access to the growing Middle Eastern market for IT services.

Amazon says it'll work with Humain, the AI company recently launched by Saudi Arabia’s ruler, to invest '$5 billion-plus' in a strategic partnership.

Saudi Arabia launched Humain, a state-owned AI company led by Crown Prince Mohammed bin Salman with former Aramco Digital CEO Tareq Amin as CEO, coinciding with Trump's Middle East tour and a $600 billion investment commitment from Saudi Arabia to the US.

The deals served as the coming out party for Humain, a state-backed artificial intelligence (AI) company that operates under the Kingdom’s Public Investment Fund (PIF) and is chaired by Crown Prince Mohammed bin Salman. The company is part of Saudi Arabia’s Vision 2030 strategy to diversify the Saudi economy away from just oil sales.

Qualcomm is once again setting its sights on the data center CPU market, this time teaming up with Saudi Arabia’s AI venture, Humain AI.

Data center development deals feature prominently in the $600B in investment the Trump administration says it has secured from Saudi Arabia.

Biden restricted the export of U.S. semiconductor chips to Saudi Arabia over national security concerns. Trump rescinded those restrictions.