These Stocks Are The Biggest Winners From Trump's Middle East Trip
Trump has announced deals worth hundreds of billions of dollars during a four-day trip to the Middle ... More East.
Super Micro Computers: The information tech firm saw its shares rise by nearly 30.6% through the last two trading sessions after reaching a $20 billion partnership with Saudi Arabian data center DataVolt on Tuesday, though Super Micro's stock dropped by nearly 4% on Thursday.
Nvidia: Shares of Nvidia, which fell slightly (0.7%) on Thursday, increased by roughly 11% through Tuesday and Wednesday after announcing a deal to supply 18,000 AI chips to Saudi-backed Humain.
AMD: The semiconductor firm's stock dipped by nearly 2% on Thursday after jumping by 7.4% over the last two days after revealing on Tuesday a $10 billion project with Saudi Arabia to supply chips and software for AI data centers.
Palantir: As one of the U.S.-based companies to attend the U.S.-Saudi Investment Forum this week, Palantir's shares rose by roughly 10% over the last two trading sessions before falling by 1.4% on Thursday.
Boeing: The aircraft maker achieved a 52-week high on Wednesday after announcing a $96 billion deal to supply 210 jets for Qatar Airways, and Boeing's shares rose again on Thursday by nearly 1.4%.
Alphabet: Google's parent company joined Oracle, Salesforce and AMD, among others, in a $80 billion investment to develop 'cutting-edge transformative technologies' in Saudi Arabia and the U.S., the White House said Tuesday, as its shares rose by 3.5% on Wednesday before dipping slightly Thursday.
Amazon: Shares of Amazon rose by 1.3% on Tuesday after the company announced a $5 billion partnership to develop an 'AI Zone' in Saudi Arabia, though the stock's positive movement was reversed after it dropped by 0.5% on Wednesday and nearly 3% early Thursday.
Tesla: CEO Elon Musk was among the billionaires to join Trump in the Middle East, a move that appeared to shift Tesla's stock up by 8.6% over the last two trading sessions, before the automaker's shares fell by more than 2% on Thursday.
The three market indexes fell Thursday morning as the S&P 500, down 0.2%, is on track to have its three-day winning streak end. The Nasdaq lost 0.5% and the Dow Jones Industrial Average dropped 119 points, or 0.2%, as Walmart's shares fell by 3% after the company warned of higher prices in response to tariffs, while UnitedHealth's shares plummeted 17%. Thursday's broad stock decline was likely the result of 'cautious optimism' as recession fears recede, with some confidence added after the U.S. and China reached a trade deal earlier this week, investors told CNBC.
Trump and many major U.S.-based companies announced several deals for projects in defense, aviation, AI and other industries since he arrived in Saudi Arabia on Tuesday. The White House said Saudi Arabia had agreed to invest $600 billion in the U.S., though some investments were already in the works, with additional deals worth more than $300 billion signed at an investor conference attended by several U.S. billionaires, including Elon Musk, BlackRock CEO Larry Fink and Palantir's Alex Karp, among others. Trump's visit has largely focused on economic investments in the U.S. rather than geopolitical strategy, though Trump said Thursday Iran had 'sort of agreed to the terms' of a deal with the U.S. to scale back nuclear weapons production.
Boeing, Tesla, Nvidia And Other Stocks Surge Amid U.S.-Saudi Dealmaking Spree (Forbes)
Trump, U.S. Businesses Ink Billions In Deals In Middle East: See The List (Forbes)
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