Semiconductor company Qualcomm joined the race for AI data centres on Monday, challenging stalwart Nvidia as it announced new artificial intelligence accelerator chips.
The San Diego, California company said its AI200 and AI250 chips will be commercially available in 2026 and 2027, respectively. The company said the chips are designed to improve memory capacity and running AI applications.
Qualcomm jumped nearly 22 per cent before settling at $187.68 a share when US trading closed at 12am GST.
In a separate statement, Qualcomm said Saudi tech start-up Humain will use 200 megawatts of its rack solutions beginning in 2026. The announcement, made before the Future Investment Initiative summit in Riyadh, builds on a preliminary agreement signed by the two parties in May.
“By establishing advanced AI data centres powered by Qualcomm's industry-leading inference solutions, we are helping the kingdom create a technology ecosystem that will accelerate its AI ambitions of becoming a hub of intelligent computing,” said Qualcomm chief executive and president Cristiano Amon.
Saudi Arabia and the UAE have been positioning themselves in recent years to become leaders in the artificial intelligence sector. One analysis from PwC estimates AI could have an economic impact of $320 billion for the Middle East.
The UAE is expected to have the largest impact, about 14 per cent of 2030 gross domestic product (GDP), while the largest gains are expected to be received in Saudi Arabia's 2030 economy, the report said.
Qualcomm, which has previously focused on semiconductors for use in wireless connectivity and mobile devices, joins a global trend of investing in AI chips.
One analysis from BlackRock estimates that investment in data centres and AI chips could top $700 billion each year by the end of the decade, equal to 2 per cent of US GDP.
An estimate from McKinsey projects data centre investments to reach nearly $7 trillion by 2030, with most going to AI chips.
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Killing of Qassem Suleimani
Zayed Sustainability Prize
Mohammed bin Zayed Majlis
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Killing of Qassem Suleimani
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China and the UAE agree comprehensive strategic partnership
China and the UAE forged even closer links between the two countries during the landmark state visit after finalising a ten-point agreement on a range of issues, from international affairs to the economy and trade and renewable energy.
1. Politics: The two countries agreed to support each other on issues of security and to work together on regional and international challenges. The nations also confirmed that the number of high-level state visits between China and the UAE will increase.
2. Economy: The UAE offers its full support to China's Belt and Road Initiative, which will combine a land 'economic belt" and a "maritime silk road" that will link China with the Arabian Gulf as well as Southeast, South and Central China, North Africa and, eventually, Europe.
3. Business and innovation: The two nations are committed to exploring new partnerships in sectors such as Artificial Intelligence, energy, the aviation and transport industries and have vowed to build economic co-operation through the UAE-China Business Committee.
4. Education, science and technology: The Partnership Programme between Arab countries in Science and Technology will encourage young Emirati scientists to conduct research in China, while the nations will work together on the peaceful use of nuclear energy, renewable energy and space projects.
5. Renewable energy and water: The two countries will partner to develop renewable energy schemes and work to reduce climate change. The nations have also reiterated their support for the Abu Dhabi-based International Renewable Energy Agency.
6. Oil and gas: The UAE and China will work in partnership in the crude oil trade and the exploration and development of oil and natural gas resources.
7. Military and law enforcement and security fields: Joint training will take place between the Chinese and UAE armed forces, while the two nations will step up efforts to combat terrorism and organised crime.
8. Culture and humanitarian issues: Joint cultural projects will be developed and partnerships will be cultivated on the preservation of heritage, contemporary art and tourism.
9. Movement between countries: China and the UAE made clear their intent to encourage travel between the countries through a wide-ranging visa waiver agreement.
10. Implementing the strategic partnership: The Intergovernmental Co-operation Committee, established last year, will be used to ensure the objectives of the partnership are implemented.
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The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
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Favourite place to visit: Dubai, there’s no place like home
