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Nvidia and Tesla ripped higher this week, boosted by Trump's Middle East tour
TSLATesla(TSLA) CNBC·2025-05-16 20:21

Group 1 - Nvidia CEO Jensen Huang met with President Donald Trump amid challenges from competition with China and potential tariffs on semiconductors [1] - Technology stocks, including Tesla and Nvidia, experienced significant gains of 17% and 16% respectively, due to easing tensions between the U.S. and China and Trump's Middle East diplomatic efforts [2] - Nvidia plans to sell over 18,000 AI Blackwell chips to Saudi Arabia-based Humain for data centers, contributing to a positive market response [3] Group 2 - Tesla CEO Elon Musk announced that Saudi Arabia approved the use of SpaceX's Starlink satellite internet service for aviation and maritime applications [4] - Musk also expressed intentions to introduce robotaxis in Saudi Arabia, indicating potential growth opportunities in the region [4]