0957 ET - President Trump's visit to Saudi Arabia Tuesday "was a bullish eye-opener for investors in US tech stocks," according to Wedbush. The analysts say Saudi Arabia is clearly the next major area of penetration for the artificial intelligence revolution. Joining Trump on his trip to the Middle East were notable names including Nvidia's Jensen Huang, Elon Musk and Amazon's Andy Jassy, among others, say the analysts. "The AI revolution is coming to the Saudi Kingdom and Riyadh will be a major buyer of AI chips, software, autonomous/robotics and data centers over the next decade," Wedbush says. The analysts think the market opportunity in Saudi Arabia could over time add another $1 trillion to the broader global AI market in the coming years, "and this dynamic is not being priced into the market and tech names in our view," they say. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
May 14, 2025 09:57 ET (13:57 GMT)
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