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.

By Max A. Cherney and Stephen Nellis (Reuters) -A number of U.S. technology firms on Tuesday announced artificial intelligence deals in the Middle East as U.S. President Donald Trump secured $600 billion in commitments from Saudi Arabia to U.

Nvidia’s shares soared amid billions of dollars in artificial intelligence investment deals made between US President Donald Trump and Saudi Arabia’s Crown Prince Mohammed bin Salman, as the Trump administration deepens ties with the wealthy Middle Eastern nation.

Taiwan's Foxconn, the world's largest contract electronics maker, said on Wednesday quarterly profit leapt 91%, beating forecasts, thanks to strong demand for AI servers, although the outlook was overshadowed by tariff uncertainty.

Several companies have pulled their full-year outlooks for 2025, with many citing market uncertainty exacerbated by Trump’s tariffs.

Foxconn CEO said that every one-unit rise in the Taiwan dollar against the U.S. dollar could reduce annual revenue by roughly 3%.