Advanced Micro Devices (NASDAQ:AMD) just scored a huge win with a $10 billion, multi-year deal to power Saudi Arabia's new HUMAIN AI hub with 500 megawatts of its chips and accelerators. Investors cheered,

Humain, the newly announced AI venture from Saudi Arabia's sovereign wealth fund, is partnering with Amazon Web Services. The two companies will invest some $5 billion to build an 'AI Zone' in the Kingdom, which is separate to the cloud provider's existing $5.3bn region set to come online next year.

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

Trump pitched Saudi Arabia as the key to building peace and prosperity in the Middle East, contrasting the kingdom with the nuclear intransigence of Iran.

AMD remains in a distant second place to Nvidia in terms of AI accelerator sales, but it seems to have found a big customer in Humain. In a separate announcement, it said the two parties will invest up to $10 billion to build 500 megawatts of AI compute capacity in Saudi Arabia, as part of an “AI superstructure.”

Amazon says it'll work with Humain, the AI company recently launched by Saudi Arabia’s ruler, to invest '$5 billion-plus' in a strategic partnership.

AMD and HUMAIN, Saudi Arabia’s new AI enterprise, on Tuesday announced a landmark agreement to build the world’s most open, scalable, resilient, and cost-efficient AI infrastructure, that will power the future of global intelligence through a network of AMD-based AI computing centers stretching from Saudi Arabia to the United States.

The oil barons of the Middle East have been trying to diversify out of carbon fuels and into other parts of the global economy for decades, but artificial