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NVIDIA (NASDAQ:NVDA) signed a deal with Qatari telecommunications provider Ooredoo Group that brings its artificial intelligence technology to data centers in five Middle Eastern countries, the companies announced Sunday. Terms of the deal were not disclosed.
Ooredoo will be the first company to provide direct access to Nvidia (NVDA) graphics processing and artificial intelligence technology to its customers in Qatar, Algeria, Tunisia, Oman, Kuwait and the Maldives, Ooredoo said in a statement. The agreement was signed on June 19 at the TM Forum in Copenhagen.
“By providing customers with Nvidia’s full-stack AI computing platform, Ooredoo will help make it easier for its customers to deploy generative AI applications and services,” said Ronnie Vasishta, senior vice president of telecommunications at Nvidia (NVDA). , it’s a statement.
Ronnie Vasishta, senior vice president of telecommunications at Nvidia, and Aziz Aluthman Fakhroo, CEO of Ooredoo group. Photo: Ooderoo
The deal is Nvidia’s (NVDA) first large-scale deal in a region where the United States has imposed export restrictions to prevent Chinese companies from acquiring advanced semiconductors through Middle Eastern countries, Reuters reported on Sunday.
Ooredoo is spending $1 billion to increase data center capacity from the current 40 megawatts to between 60 and 65 megawatts, with plans to triple capacity by the end of the decade, Reuters reported.
Last week, Nvidia (NVDA) surpassed Apple (AAPL) and Microsoft (MSFT) to become the world’s most valuable publicly traded company with a market capitalization of more than $3.34 trillion. The company’s shares have risen more than 180% so far this year and 200% in the past 12 months, driven by a surge in demand for its AI chips.