The Trump administration is preparing to announce a deal that would give Saudi Arabia more access to advanced semiconductors and increase the country's ability to purchase chips from major US companies such as Nvidia (NVDA) and Advanced Micro Devices (AMD), Bloomberg News reported Tuesday, citing people familiar with the matter.
The US and Saudi governments have reached an early-stage agreement, but are still hashing out numerous key details, the unnamed sources told the news outlet.
US President Donald Trump could announce a deal as soon as this week, Bloomberg reported.
A potential deal would clear the path for increased data center capacity in Saudi Arabia despite concerns from some US officials about its ties to China, according to the report.
Representatives from the White House and the Saudi government didn't immediately respond to MT Newswires' requests for comments.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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