New Trend: Semiconductors Replacing Oil as Valuable Commodity; Analyst Says Saudi Arabia's Push for Data Centers Increases Chances of Historic Lectures with US

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What Happened: Saudi Arabia may have come around because of its need for data centers and semiconductors said, Lumida Wealth co-founder Ram Ahluwalia, explaining the potential backstory behind the rumored deal.“Semiconductors are the New Oil,” the wealth manager said.

Following a report that said the U.S.and Saudi Arabia are nearing a historic pact that would offer the latter security guarantees and lay out a possible pathway to diplomatic ties with Israel, an investment advisor weighed in on what may have precipitated the development.

In a win-win proposition, the U.S.would want lower oil and gas prices and a win in the Middle East, Ahluwalia said.The U.S., though not having export controls on Saudi, can interrupt Nvidia chip flow to Riyadh, he added.“Remember, Saudi is building 60 ...

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Author / Journalist: Shanthi Rexaline

Category: Technology

Markets: United StatesChinaIsraelSaudi Arabia

Topics: KSA Benzinga Artificial intelligence Tech Analyst Color Media Top Stories US0186062024 News Politics Expert Ideas Ram Ahluwalia Stories That Matter AIQ

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-02 @ 11:08:10 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 444 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 20855522

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