Data center development deals feature prominently in the $600B in investment the Trump administration says it has secured from Saudi Arabia.

AMD said on Wednesday that its board of directors approved $6 billion in share buybacks. The stock climbed 8%. The authorization is in addition to $4 billion in existing approved share repurchases, the company said.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

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.

In a geopolitical chess game with billions at stake, Saudi Arabia, the U.S. and Nvidia all have something to gain.

Saudi Arabia is going all-in on AIand it just roped in a major U.S. chipmaker to help lead the charge. The Kingdom's new AI investment vehicle, Humain, has announced a $10 billion commitment to build a global AI backbone,

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.