The U.S. has approved several billion dollars worth of Nvidia Corp. chip exports to the United Arab Emirates, an initial step in implementing a controversial deal that could serve as a blueprint for American AI statecraft.
The Commerce Department’s Bureau of Industry and Security recently issued the Nvidia export licenses under the terms of a bilateral AI agreement hashed out in May, according to people familiar with the matter, who requested anonymity so they could discuss a sensitive issue.
That approval came after the UAE made concrete plans for a reciprocal amount of investment on American soil, a U.S. official said. The official declined to specify the exact value of the approved chip shipments and Emirati investment.
Nvidia shares rose 1.8% by close of Thursday U.S. trading.
A representative for the UAE did not respond to a request for comment, while Nvidia declined to comment.
US OKs some Nvidia chip exports to UAE
