Nvidia will sell more than 18,000 of its latest artificial intelligence chips to Saudi company Humain, CEO Jensen Huang announced Tuesday. The announcement was made as part of a White House-led trip to the region that includes President Donald Trump and other top CEOs.

Nvidia stock jumped over 3% early Wednesday after the company and fellow chipmakers announced billions of dollars worth of AI deals with Saudi Arabia.

“AI chips should not be bargaining chips for broader trade deals,” says Janet Egan, a senior fellow at the Center for a New American Security (CNAS). “They underpin US AI dominance, and we have to be really careful to not make short term decisions that might be beneficial for trade in the near term, but cede AI leadership in the longer term.”

Saudi Arabia’s Crown Prince Mohammed Bin Salman launched Humain to develop and manage artificial intelligence technologies.

The United States does not hold a monopoly on technological breakthroughs. As it sought to contain China’s advances in artificial intelligence, President Joe Biden’s administration tried to use restrictions on cutting-edge chips from Nvidia as a cudgel,

The Trump administration is preparing to announce a deal granting Saudi Arabia more access to advanced semiconductors, paving the way for increased data center capacity in the Gulf nation despite concerns from some US officials about its ties to China,

Nvidia’s stock surged after a major Saudi AI chip deal and boosted Jensen Huang’s net worth to around $114 billion.