Nvidia and other AI stocks climbed Wednesday, extending Tuesday's gains as Saudi partnerships stoked excitement for future deals.

That's the number of deals Saudi Arabian Oil Co., known as Aramco, said Wednesday that it had inked with U.S. companies. The deals, with a potential combined value of $90 billion, came as President Trump visited Saudi Arabia and other Middle Eastern countries.

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

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.

Tesla stock rose again Tuesday after thawing U.S.-Chinese trade relations gave the shares a big boost on Monday. Elon Musk, meanwhile, was one of many executives on hand for President Donald Trump’s visit to Saudi Arabia.

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.

Advanced Micro Devices (AMD) is surging, heading for its sixth-straight win after the chipmaker announced a share buyback and deal with Saudi Arabia

Stocks were set to edge higher on Wednesday, having racked up solid gains the previous session thanks to a cooler-than-expected inflation reading and news of artificial intelligence investments from Saudi Arabia.

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