Nvidia’s partnership with Saudi Arabia’s Humain could help offset some of its revenue losses in China, analysts said.

Shares of Nvidia (NVDA) and other semiconductor stocks surged Tuesday amid optimism about new partnerships and trade deals. Nvidia's stock jumped over 6% in recent trading, and Advanced Micro Devices (AMD) shares were up 4% after the companies said they would supply semiconductors to Saudi Arabian AI startup Humain,

Semiconductor stocks were largely higher on Tuesday after Nvidia (NASDAQ:NVDA) signed a partnership with Saudi Arabia to turn the Middle East country into a “global powerhouse in AI.” Nvidia shares rose more than 6% after it said it will send chips to Saudi Arabian AI company Humain for a data center buildout that could have as much as 500