President Donald Trump spent much of his four-day trip to the Middle East securing business deals, like the $600 billion investment pledge by the Saudis that Trump is trying to push to $1 trillion.
Among the agreements, "The American chip giants Nvidia and AMD will now be allowed to sell advanced chips to Saudi, Emirati and Qatari customers as those countries seek to become powerhouses in artificial intelligence. One customer is an enormous new A.I. campus in Abu Dhabi whose ambitions rival Stargate, the OpenAI-led venture, in size," The New York Times reported.
The deal was brokered by Trump's top A.I advisers David Sacks and Sriram Krishbnan, according to the Times. The venture capitalists "worked closely with CEOs, including Nvidia's Jensen Huanbg and Sam Altman of OpenAI."
But Trump's wheeling and dealing in the artificial intelligence sector is giving pause to some back home, with both Republican and Democratic "security hawks" concerned that the technology "might find its way to China."
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"Some Trump officials are already weighing how to pause the deals over concerns they risk breaching security red lines, including that the technology could fall into the wrong hands," The Times reported.
Security concerns aside, some on Wall Street see this week’s trip "as opening a potential windfall for the sector," The Times reported.
"It could lift revenues for Nvidia and AMD in the coming quarters and even provide a boost to Micron, another chip maker that supplies those companies," The article said.
During Trump's time in the Middle East he met with top officials in Saudi Arabia, Qatar and the United Arab Emirates. One of his most notable actions was lifting sanctions on Syria and sending overtures to Iran, saying he wanted to "make a deal" toward normalizing relations.
