It’s a sharp reversal from the past few months, when the S&P 500 was down as much as 17% as investors fretted over the effects of President Donald Trump’s tariff policies. But

U.S. chip maker Nvidia will partner with Saudi Arabia’s sovereign wealth fund-owned AI startup Humain and will ship 18,000 chips to the Middle Eastern nation to help power a new data center project.

Nvidia topped a $3 trillion valuation for the first time since February. A fresh AI partnership with Saudi Arabia was boosting the stock on Tuesday.