TSMC and Samsung Consider Building Mega Chip Factories in UAE

Chip giants TSMC and Samsung reportedly mull building mega factories in the UAE

TSMC's facility could be on a par with its biggest in Taiwan, say insiders. Leading chipmakers TSMC and Samsung are discussing mega factory building projects in the United Arab Emirates (UAE), according to a report published by the Wall Street Journal (WSJ). The source report indicates that investments of $100 billion or more are being considered. However, neither TSMC nor Samsung confirmed any specific plans. To be clear, we aren't talking about a TSMC and Samsung hook-up in the UAE; they would invest and build in the region separately. According to the WSJ, top TSMC executives have recently visited the UAE to explore expanding manufacturing operations. Interestingly, the world's largest contract chipmaker "talked about a plant complex on par with some of the company's largest and most advanced facilities in Taiwan," said unnamed people familiar with the matter. Projects like this could be worth more than $100 billion, according to the WSJ. The claims regarding TSMC are undoubtedly eye-catching, if not a little superstitious, as the Taiwanese firm is well known for limiting its crown jewels, its top technologies, to facilities on its home turf. Even its newest factories in old and trusted allied nations like the USA, Germany, and Japan don't tread on the toes of its most advanced facilities in Taiwan - so why should the UAE be any different? In response to Reuters questions about its purported UAE plans, TSMC said it hasn't announced anything new. Instead of addressing the question directly, it repeated a boilerplate statement about always being open to constructive discussion on the development of the semiconductor industry. Moving on to the Samsung rumors, we have a similar story. The source report says senior Samsung execs have also recently visited the UAE to discuss factory building plans. According to the WSJ, such projects may be funded by the UAE, with a central role for the Abu Dhabi-based Mubadala investment company. Plans are still in the early stages, and various technical and other hurdles must be navigated. According to Reuters, Samsung declined to comment when quizzed about its UAE plans. The UAE has featured quite frequently in tech news in recent months. We have reported on the oil-rich Middle East being at the center of an influence war between the U.S. and China. Over recent months, the pull of the U.S. and the more advanced technologies of its allies seems to have won the region over. This was likely inevitable as countries like the UAE seek to diversify from fossil fuels into technology, with eyes on AI in particular. Megafactories run by TSMC and Samsung inside the UAE would help cement the country's position as a Middle East tech hub, delivering enviable access to the latest semiconductors. The best-known AI /tech company based in the UAE is probably G42. Earlier this month, this pivotal firm got the green light from the U.S. to import advanced Nvidia GPUs for its data centers, joining its Cerebras-powered systems. G42 is also known to have divested from China-backed projects and purged its data centers of Chinese parts. Perhaps the timing of these decisions signals that the doors to mega factory investments from companies like TSMC and Samsung are now open.

Chip giants TSMC and Samsung discuss building middle eastern megafactories

Two chip-making giants have discussed building huge factory complexes in the United Arab Emirates that could transform the industry in the coming years and become a cornerstone for artificial-intelligence investments in the Middle East. Top executives at Taiwan Semiconductor Manufacturing Co., the world's largest chip maker, have visited the U.A.E. recently and talked about a plant complex on par with some of the company's largest and most advanced facilities in Taiwan, according to people familiar with the interactions. Samsung Electronics also is considering major new chip-making operations in the country in the years ahead, according to other people with knowledge of its strategy. Senior leaders of the South Korean company have visited the U.A.E. recently and discussed the possibility, they said. Discussions are still in the early phases and face technical and other hurdles that mean they might not pan out. Under initial terms being discussed, the projects would be funded by the U.A.E., with a central role for Abu Dhabi-based sovereign development vehicle Mubadala, which is eager to develop a domestic tech industry. The broader goal would be to increase global chip production and help bring chip prices down without hurting chip-makers' profitability, some of the people said. A Mubadala spokesman said MGX, a state-backed company that is spearheading some of Abu Dhabi's most prominent AI investments, had made semiconductor manufacturing a pillar of its strategy and was "in regular dialogue with partners around the world," although there are no specific plans currently for a facility in the U.A.E. The discussions with TSMC and Samsung reflect both the U.A.E.'s growing tech ambitions and a global push to fund expanded chip production, in large part to satisfy the needs of the AI boom. Costs have ballooned in recent years, to the point that a single cutting-edge chip factory can require $20 billion. Projects on the scale being discussed in the U.A.E. involve complexes that could contain numerous factories and cost over $100 billion in aggregate. Abu Dhabi has one of the world's largest pools of sovereign wealth, and Mubadala said its portfolio of investments was valued at about $300 billion as of last year. Government officials and industry executives say substantial technical and political hurdles remain. One concern is that chip manufacturing requires large amounts of super-clean water for uses such as rinsing the silicon wafers that microscopic circuits are etched onto. Much of the U.A.E.'s water is produced through desalination and would require substantial purification. There also are concerns about the availability of engineering talent to staff major new factories far from the companies' home bases, in a country without much of an existing chip-making supply chain. If TSMC and Samsung were to go forward, the projects could usher in a next wave of industry expansion following an era of manufacturing growth driven by government subsidies in the U.S., Europe and East Asia. The U.S. is putting $39 billion of grants into domestic chip-making under 2022's Chips Act, coupled with tax incentives expected to be worth much more. European leaders have cobbled together their own incentive packages, drawing in companies including Intel and TSMC. As they consider new projects in the U.A.E., TSMC and Samsung have had discussions with U.S. government officials who are concerned about shipments of advanced AI chips into China, a U.A.E. trading partner. The parties have spoken to Biden administration officials about giving the U.S. oversight on the production and shipments of chips coming from any U.A.E. factories, although details have yet to be worked out. "We have worked extensively with the U.A.E. on areas of advanced technology over the last two years, and the partnership is moving in the right direction, " a U.S. National Security Council spokesman said. The chip makers aren't expecting a resolution of U.S. concerns about China to materialize soon, and construction on the factories likely won't start until that happens, according to people involved in the discussions. The U.A.E. is a member of the Organization of the Petroleum Exporting Countries, and Abu Dhabi, its capital, is a major producer of oil and natural gas. Like other natural-resource powers in the region, Abu Dhabi has sought to diversify its economy in recent decades, using its oil wealth to invest in industries such as aluminum production. The U.A.E. has made headway recently in its effort to be a player in advanced technologies. OpenAI Chief Executive Sam Altman has talked with investors in the U.A.E., among other places, about dramatically expanding production of chips, power and other essential inputs for developing AI -- efforts that ultimately could entail investment of as much as $5 trillion to $7 trillion, The Wall Street Journal reported in February. Emirati entities have forged ties with other big companies in AI, including a stake in the startup Anthropic of nearly $500 million and recent talks about participating in the latest funding round for Altman's OpenAI. The country's leading AI company, G42, received a $1.5 billion investment from Microsoft this year. MGX also has partnered with companies including BlackRock and Microsoft on a fund announced this month to invest up to $100 billion expanding and building artificial-intelligence data centers. Abu Dhabi has invested in the chip industry before, taking control of the former manufacturing operations of Advanced Micro Devices in 2008 as part of a spinoff. There were discussions then about a potential chip plant in the U.A.E. that never materialized. The spinoff, called GlobalFoundries, was listed in a U.S. initial public offering in 2021. Yang Jie, Berber Jin and Tom Dotan contributed to this article.

TSMC and Samsung in talks with UAE to build chip megafactories

The Dubai International Financial Centre (DIFC) area of Dubai, United Arab Emirates, with the Burj Khalifa in the backdrop, Sept. 16, 2022. Global chip giants Taiwan Semiconductor Manufacturing Co. and Samsung Electronics have been in talks with the United Arab Emirates to explore building megafactories in the Middle East, Wall Street Journal reported Sunday, citing people familiar with the interactions and strategies involved. Top executives at TSMC have visited the Gulf state recently to discuss plans of building factory complexes that's comparable to some of the company's largest and most sophisticated facilities in Taiwan, the report said. South Korea-based Samsung Electronics has also been considering investing in building chip manufacturing facilities in the country in the coming years. Senior leaders in the South Korean company have recently visited the country to explore the idea, the report said. These projects involves complexes with numerous factories that could cost over $100 billion. Under the initial terms discussed in the meetings, they would be largely funded by the UAE, according to the report. And Abu Dhabi sovereign wealth fund Mubadala, which has been tasked with funding the expansion of its domestic semiconductor manufacturing, will play a key role. The Gulf state has been ramping up efforts and investment to develop its domestic tech industry and expand home-grown chip supplies as it works to build its position as a global hub for advanced technology and artificial intelligence. However, the discussions with UAE officials were still in the early stages and outcome of these plans are subject to efforts overcoming several technical and political hurdles, the report said. A tug-of-war between the U.S. and China has played out in the region as tech deals speed up and Washington grows increasingly wary over Beijing's influence in the Gulf state. Top UAE-based AI company G42, which is central to Abu Dhabi's AI ambitions, last year vowed to phase out Chinese hardware, which had raised concerns over its transfer of U.S. AI technology to Beijing. The U.S. will likely continue to pressure the UAE not to work with China, "as there would be advanced AI-related chips being produced in these plants," Alex Capri, a senior lecturer at National University of Singapore's business school, told CNBC. Washington has imposed sweeping export controls on sales of advanced chips, which are used to build AI models, as well as related manufacturing equipment to China. "So long as China remains well behind in their ability to to produce advanced semiconductors, the UAE is always going to be seen as a potential backdoor," Capri said, which would cast some uncertainty over the deal. TSMC and Samsung Electronics have engaged talks with Washington officials who expressed concerns about the advanced chips being shipped from these UAE factories to China, the WSJ report said. It has been proposed that U.S. could gain oversight on production and shipment of these chips, but a final resolution may not be worked out soon, the report said, and construction of these plants will only come after an agreement is reached. There are also technical challenges while setting up chip manufacturing facilities in the UAE, such as the substantial purification required to produce the ultra-clean water needed for chip manufacturing process, the report said. Much of the water in the UAE are produced through desalination. The chipmakers were also worried about the availability of tech talents for its new facilities in a country without a solid existing chip supply chain, it added.

TSMC, Samsung consider building chip factories in UAE

Image credit: Victor J. Blue/ Getty Images The world's biggest chipmakers, Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung Electronics are reportedly considering building major new factories in the UAE in the coming years to meet the soaring demand for artificial intelligence (AI) computing. Sources familiar with the matter told The Wall Street Journal that TSMC executives visited the UAE recently and discussed a plant complex on par with some of the company's largest and most advanced facilities in Taiwan. Similarly, South Korea's Samsung also recently sent its senior leaders to the Emirates to discuss major new operations in the Gulf state. Under the initial terms being discussed, the projects would be funded by the UAE, with a central role for Abu Dhabi-based sovereign development vehicle Mubadala, according to a WSJ report. The broader goal would be to increase global chip production and help bring chip prices down without hurting chipmakers' profitability. A Mubadala spokesman told WSJ that Abu Dhabi technology investment firm MGX had made semiconductor manufacturing a pillar of its strategy and was "in regular dialogue with partners around the world," although there are no specific plans currently for a facility in the UAE. However, discussions with TSMC and Samsung are still in the preliminary phases, and they face technical and other hurdles that could prevent them from panning out. TSMC and Samsung's potential projects could pave the way for the next phase of industry expansion following an era of manufacturing growth spurred by government subsidies in the US, Europe and East Asia. The UAE aims to become a regional hub and testing ground for AI. That includes potentially backing OpenAI CEO Sam Altman's ambitious plan to expand machinery and systems for the technology. Abu Dhabi's G42 is central to the UAE's push into AI. The AI firm secured a $1.5bn investment from Microsoft earlier this year, and the companies recently unveiled plans to create two centres locally to develop AI industry standards. Read: Abu Dhabi's MGX, Microsoft, BlackRock partner to launch $30bn AI fund

TSMC, Samsung mull building big chip factories in UAE, WSJ reports

Top executives at TSMC have visited the UAE recently and talked about a plant complex on par with some of the company's largest and most advanced facilities in Taiwan, WSJ said citing people familiar with the interactions. South Korea-based Samsung Electronics, the maker of smartphones, TVs and memory chips, is also considering major new chip-making operations in the country in the years ahead, the paper said citing unnamed sources. TSMC and Samsung did not immediately respond to a Reuters request for comment. Senior figures at Samsung Electronics visited UAE recently and discussed the idea, WSJ reported, adding that the discussions were still in the early phases and may face technical and other hurdles. Under initial terms being discussed, the projects would be funded by the UAE, with a central role for Abu Dhabi-based sovereign development vehicle Mubadala, according to WSJ. The paper added that the broader goal would be to increase global chip production and help bring prices down without hurting chip-makers' profitability. As tech deals in the region speed up, Washington has become increasingly concerned about the UAE and other Middle Eastern countries becoming a conduit for advanced U.S. AI technology reaching China.

TSMC, Samsung consider building chip factories in UAE, WSJ reports

South Korea-based Samsung Electronics, a maker of smartphones, TVs and memory chips, is also considering major new chip-making operations in the country in the years ahead, the paper said. TSMC told Reuters it had no new investment plans to announce. "We are always open to constructive discussion on ways to promote development of the semiconductor industry, but we remain focused on our current global expansion projects and have no new investment plans to disclose at this time," it said in a statement on Monday, without elaborating. Senior figures at Samsung Electronics visited UAE recently and discussed the idea, WSJ reported, adding that the discussions were still in the early phases and may face technical and other hurdles. Under initial terms being discussed, the projects would be funded by the UAE, with a central role for Abu Dhabi-based sovereign development vehicle Mubadala, according to WSJ. The paper added that the broader goal would be to increase global chip production and help bring prices down without hurting chip-makers' profitability. As tech deals in the region speed up, Washington has become increasingly concerned about the UAE and other Middle Eastern countries becoming a conduit for advanced U.S. AI technology reaching China. (Reporting by Mrinmay Dey and Disha Mishra in Bengaluru; Additional reporting by Ben Blanchard in Taipei; Editing by Hugh Lawson and Christian Schmollinger)

TSMC, Samsung reportedly eye UAE for fab expansion

There's no shortage of sand, but chip plants are thirsty for something even more precious: water Despite finding itself at the center of the United States' trade war with China, the United Arab Emirates (UAE) is quickly establishing itself as a hotbed for AI development and its aspirations could soon extend to semiconductor manufacturing. According to a Wall Street Journal report citing unnamed persons familiar with the matter, executives from Taiwan Semiconductor Manufacturing Co. (TSMC) and Samsung Electronics -- the world's two most prolific foundry operators -- recently visited the oil-rich nation to discuss the development of chip fabs in the country. The projects reportedly being discussed would be massive in scale, involving multiple complexes that would cost more than $100 billion to complete. While that might sound like an incredible sum, in the context of semiconductor manufacturing, it's middle of the road: Large-scale semiconductor manufacturing facilities can easily cost $15-$20 billion a piece and are only one piece of a much broader supply chain, which also involves research and development, testing, assembly, and advanced packaging, to name a few. Discussions are in the "early phases" but the facilities would be bankrolled by the UAE. To be clear, neither TSMC nor Samsung Electronics have committed to building in the region. And if they do, they face numerous hurdles. TSMC didn't directly address talks of a fab in the UAE, but told The Register, it is "open to constructive discussion on ways to promote development of the semiconductor industry, but we remain focused on our current global expansion projects and have no new investment plans to disclose at this time." Samsung Electronics didn't immediately respond to a request for comment; we'll let you know if we hear anything back. From a practical standpoint, the UAE's climate isn't exactly conducive to semiconductor manufacturing despite what might seem like an abundance of the chief ingredient. That's because these plans require large volumes of hyper-clean water, which is used to rinse the wafers during the lithography process. This is potentially problematic as the majority of the UAE's water supply comes from desalination plants. If that weren't enough, any foundry developments in the country would also need to be accompanied by an influx of skilled labor, something that's already proving problematic in the United States and Europe. It's estimated the US alone faces a shortage of at least 70,000 engineers, technicians, and computer scientists by the end of the decade. However, perhaps the biggest hurdle facing the UAE's technological aspirations isn't a practical one, but rather a geopolitical one. The country is one of several Middle Eastern nations that have found themselves at the center of the US-China trade war. Over the past few years, the oil-rich nation has worked to diversify its economy and establish itself as a technological powerhouse in the Middle East as it made sweeping investments in artificial intelligence (AI). However, these efforts have been threatened in recent years by export restrictions aimed at preventing China from using the Middle East as a proxy for obtaining sensitive technologies, which have made it challenging to import GPUs and other AI accelerators from US companies. These controls have already proven to be troublesome for UAE state-backed companies like G42, which has come under intense scrutiny by Biden administration officials for its ties to Chinese firms. Last fall, reports surfaced that US intelligence agencies had raised alarms that G42 may be supplying China with advanced technologies and genetic data describing millions of people. In the wake of these revelations, G42 has reportedly cut ties with its Chinese partners, including Huawei. In spite of intense scrutiny and US export restrictions, G42 has pushed ahead with its AI ambitions soliciting the help of several American companies in doing so. In July 2023, G42 invested roughly $900 million in Cerebras Systems to develop a global network of AI supercomputers based on its waferscale compute architecture. Under the deal, G42 would have priority access to these systems' compute capacity to remotely develop and train models. This spring, Microsoft invested $1.5 billion into the firm aimed at accelerating AI developments using Azure across the Middle East, Central Asia, and Africa with the proviso that both companies would do their best to ensure the "secure, trusted, and responsible development and deployment of AI." Naturally, the deal attracted the condemnation of some US officials. However in the months since then, US-Middle East relations appear to be improving. Earlier this month, it was reported that Nvidia had secured US approval to resume shipments of GPUs to the UAE. While the UAE has dominated headlines, it's far from the only Middle Eastern nation looking to capitalize on AI's disruptive potential. Saudi Arabia has announced similar investments in AI infrastructure. Last week, Mountain View, California-based AI chip designer Groq announced a strategic partnership with Saudi Arabian oil conglomerate Aramco to develop an AI datacenter based on its LPU accelerators in the country. The news comes as Nvidia is said to be nearing an agreement with US agencies to resume shipments of GPUs to the country as well.

TSMC, Samsung Reportedly Mulling UAE Chip Megafactories

The reported talks come amid surging demand for artificial intelligence (AI) computing. Taiwan Semiconductor Manufacturing Co. (TSM) and Samsung Electronics reportedly have been considering building large new chip-making factories in the United Arab Emirates amid surging demand for artificial intelligence (AI) computing. According to The Wall Street Journal, the projects being discussed "involve complexes that could contain numerous factories and cost over $100 billion in aggregate," but "government officials and industry executives say substantial technical and political hurdles remain." Among the hurdles on the technical side: The need for "super-clean water" to rinse silicon wafers -- an issue when most of the UAE's water is produced via desalination -- and "concerns about the availability of engineering talent to staff major new factories far from the companies' home bases." The report also said that the two companies have had talks with U.S. officials worried that the advanced AI chips produced would make their way to China, a key trading partner of the UAE. Government subsidies globally have been helping the chip industry expand in the U.S., Europe, and Asia. In the U.S., the government has been doling out billions in grants as part of the CHIPS and Science Act of 2022 to ensure production is done domestically. TSMC's American depositary receipts (ADRs), which edged higher as markets opened Monday, are up almost 70% this year.

TSMC, Samsung discuss building chip factories in UAE: WSJ By Investing.com

Investing.com -- Samsung (LON:0593xq) Electronics (KS:005930) and Taiwan Semiconductor Manufacturing Co., (NYSE:TSM), widely known as TSMC, have engaged in talks about constructing large semiconductor plants in the United Arab Emirates, The Wall Street Journal reported on Sunday. These potential facilities could boost the region's role in the growth of artificial intelligence. Top executives from TSMC, the world's leading chipmaker, recently visited the U.A.E. to discuss the possibility of building a manufacturing complex comparable in scale to its most advanced facilities in Taiwan, the report said. Similarly, senior leaders from South Korea's Samsung have explored establishing major chip production operations in the country. Though still in the early stages, the discussions face several challenges, including technical factors, and may not lead to actual construction. The report added that the combined cost of the factories could top $100 billion. The projects would likely be backed by funding from the U.A.E. and its sovereign wealth fund, Mubadala, as part of a broader strategy to develop a domestic tech industry.

TSMC, Samsung Weigh Major New Chip Factories in UAE, WSJ Reports

Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. have discussed building major new factories in the United Arab Emirates in coming years amid the rise of artificial intelligence, the Wall Street Journal reported. Executives from TSMC, the world's largest chipmaker, have visited the UAE recently to discuss building a plant complex that could rival the company's advanced facilities in Taiwan, the newspaper said Sunday, citing people familiar with the interactions.

Samsung and TSMC have been eyeballing the Middle East for new locations to build chip factories, says WSJ

Don't get too excited; this is probably just about having even more AI stuff. TSMC and Samsung are the world's largest chip manufacturers, with the majority of their manufacturing plants located in their native countries, Taiwan and South Korea. Both also have plants in the USA, either fully running or still under development, and now it looks like they're both planning on expanding their facilities in the Middle East. That's according to a news report by the Wall Street Journal (via The Verge), which claims that TSMC and Samsung have recently visited the United Arab Emirates with a view to building new chip foundries in that country. This might seem like a bit of an odd choice for a location, as the UAE isn't particularly known for having an abundance of water (necessary for chip making) and unlike the USA and Europe, it doesn't have a long history of micro-electronics manufacturing, either. But these two stumbling blocks are somewhat countered by something that the UAE does have a lot of -- money and a keen interest in AI investment. The latter is likely to be the primary motivation behind TSMC and Samsung's visit to the UAE because as both companies have discovered with building new chip fabs in the USA, it's monumentally expensive to get such things started. Amazon, AMD, Google, and Nvidia employ the services of TSMC (and Samsung, but to a much lesser extent) to make all of their hulking AI-focused chips. However, investors are somewhat twitchy over the fact that the entire industry is dependent on just one or two countries to meet the ever-growing demand for AI chips. Not that we'd see a UAE-based chip plant any time soon, though. Even if all parties shake hands and sign papers tomorrow, it'll be years before a fully-fledged foundry is spitting out massive chips with ideal yields. Some of the problems can be resolved by just spending an awful lot of money but even then, staffing the facilities will take a while to get right. And despite the wealth of the UAE, it's unlikely to be doing this just so the manufacturing plants can churn out millions of low profit margins chips -- it'll be looking to make a decent return on any fab investment, so that pretty much just means AI megachips. Without being privy to inside information, it's impossible to tell just how much it costs to make one Hopper H100, for example, but given that AMD and Nvidia's data center profits are huge, it's obvious where the big money is and why the UAE is especially interested in becoming part of it all. PC gaming has always been an expensive hobby, of course, but it would be nice if there was a concerted effort by the industry to lower costs and pass that on to the consumer. Wishful thinking, I know, but one can dream, yes?

TSMC And Samsung Explore $100B Chip Megafactories In UAE Amid AI Boom And Global Expansion Plans: Report - Microsoft (NASDAQ:MSFT), NVIDIA (NASDAQ:NVDA)

Taiwan Semiconductor Manufacturing Co. TSM and Samsung Electronics Co. SSNLF are discussing the construction of massive chip-making complexes in the United Arab Emirates. These projects could be valued at over $100 billion. What Happened: Executives from TSMC have recently visited the UAE to explore the possibility of establishing a plant complex comparable to their largest facilities in Taiwan. Similarly, senior leaders from Samsung have also visited the UAE to discuss potential chip-making operations in the region, The Wall Street Journal reported citing, people familiar with the interactions. These discussions are in the preliminary stages and face significant technical and logistical challenges. The UAE would fund these projects, with Abu Dhabi-based sovereign development vehicle Mubadala playing a central role. Mubadala is eager to develop a domestic tech industry and increase global chip production. The UAE's ambitions reflect a broader global push to expand chip production to meet the demands of the AI boom. However, substantial technical and political hurdles remain, including the need for super-clean water and the availability of engineering talent. Both TSMC and Samsung have had discussions with U.S. government officials regarding concerns about shipments of advanced AI chips to China, a trading partner of the UAE. These concerns need to be resolved before construction can begin, according to the report. "We are always open to constructive discussion on ways to promote development of the semiconductor industry, but we remain focused on our current global expansion projects and have no new investment plans to disclose at this time," a TSMC spokesperson told Benzinga in an email inquiry. Samsung did not immediately respond to Benzinga's request for comment. See Also: Bitcoin Worth $63,000 Pulled In $33 Pack Of Trading Cards At GameStop: 'Mind-Boggling' Story Goes Viral, Highlights Crypto Redemption Card Why It Matters: The discussions between TSMC and Samsung come at a time when the Middle East is becoming increasingly significant in the global semiconductor landscape. Microsoft Corp. recently called for more transparency on U.S. export controls that have delayed the delivery of AI chips to the region. The company had invested $1.5 billion in G42, the largest AI company in the UAE, to use it as a gateway to markets in Africa and Asia. Additionally, NVIDIA Corp has begun supplying its advanced chips to Saudi Arabia, positively influencing market sentiment in the Middle East and Asia. This move came after the U.S. reassessed its advanced semiconductor sanctions on Saudi Arabia, initially imposed in 2023 due to national security concerns. Read Next: Amazon Told Its Staff They Must Come To Office Five Days A Week, But Its One Medical Subsidiary Workers Reportedly Have It Easier: E-commerce Giant Denies Report Image Via Shutterstock This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote Market News and Data brought to you by Benzinga APIs