Saudi Arabia wants to rock the casbah. While the U.S. is currently the leader in AI technology, China is looming large in America's rear-view mirror. 💸💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💸 In 2015 China launched "Made in China 2025,

Shares of major defense contractors were mostly down Tuesday after the U.S. announced that Saudi Arabia is buying $142 billion in “state-of-the-art” warfighting equipment and services from U.S. defense firms.

Shares of semiconductor manufacturer AMD were up Wednesday after a big stock buyback authorization. Here's what that means.

Saudi Arabia’s plan to invest $20 billion in U.S. artificial-intelligence data centers and energy infrastructure creates big opportunities for AI stocks.

A tech rally helped push the Nasdaq higher, with shares of AMD and Nvidia rising more than 4%. Alphabet (GOOGL, GOOG) ticked higher by over 3%, and shares of Super Micro Computer

Shares of Arm Holdings ( ARM 5.55%) are moving higher today for two primary reasons. First, there was an upward trend in semiconductor stocks as several companies announced AI deals in the Middle East, assuaging concerns that "AI diffusion" rules won't be as strict as some had feared.

The announcements follow reports that the US administration intends to facilitate AI chip deals between American firms and Gulf nations.

AMD increases existing stock repurchase authorisation by $6 billion. The AI chips giant has signed a multi-year deal with Saudi Arabia.

Franklin Resources Inc. and Neuberger Berman reached multibillion-dollar investment deals with Saudi Arabia’s sovereign wealth fund, the latest signs that the country is attracting US money managers to invest in the kingdom.