Vedanta Plans Saudi Spending Boost in Push for Copper, Gold

Executives from Musk's xAI and Nvidia announced plans to develop a data center in Saudi Arabia during a gathering that included President Trump and Crown Prince Mohammed bin Salman. This initiative aims to enhance the region's artificial intelligence capabilities.

Elon Musk's xAI plans to establish a 500 megawatt data center in Saudi Arabia in collaboration with the state-backed AI venture Humain, utilizing chips from Nvidia Corp. This initiative is part of a broader strategy to enhance AI capabilities in the region.

The US is set to approve the sale of advanced artificial intelligence chips to the Saudi Arabian AI firm Humain, according to sources familiar with the matter. This decision comes as Saudi Crown Prince Mohammed bin Salman meets with US President Donald Trump, marking a significant step for the state-backed venture. The approval is seen as a positive development for both the US technology sector and Saudi Arabia's ambitions in AI.

Tareq Amin is promoting Saudi Arabia as a prime destination for AI computing power, leveraging the country's oil wealth. His sales pitch has gained traction in Silicon Valley, where tech companies are increasingly seeking robust AI infrastructure. This initiative aligns with Saudi Arabia's broader strategy to diversify its economy and invest in technology sectors, moving away from its traditional reliance on oil revenues.

The Trump Organization is set to develop a luxury resort in the Maldives valued at $300 million in partnership with a Saudi Arabian firm. This project will involve tokenizing the hotel development, indicating a shift towards integrating blockchain technology in real estate ventures. The initiative reflects the growing trend of utilizing digital assets in large-scale investments, particularly in the hospitality sector.