The signing of a deal to sell billions of dollars worth of Nvidia high-tech chips to the UAE is important for the United States, as it allows it to maintain its leading position in the tech race with China, The Wall Street Journal reported, citing its sources.
According to their information, Nvidia CEO Jensen Huang and David Sachs, responsible for US policy in the field of artificial intelligence and cryptocurrencies, are expected to sign the chip deal with the UAE soon to demonstrate the new US strategy focused on exports. They believe that this agreement is important for maintaining the US leadership in the field of artificial intelligence.
According to a senior US administration official, the UAE will invest at least $1 billion in the US by the end of the year in exchange for at least $1 billion worth of Nvidia chips. Other sources indicate that the UAE will have to pay for the chips separately.
According to the newspaper's sources, US Secretary of Commerce Howard Lutnick insisted that the United Arab Emirates finalize its investment before the department would authorize the delivery of the chips. It is noted that the lengthy negotiations have delayed the deal.
On July 24, the US leader signed three executive orders aimed at developing artificial intelligence technologies in the country and increasing the export of various developments based on artificial intelligence.