Nvidia continues to rise on Wall Street following Saudi AI deal

Nvidia ended Wednesday 4.2 percent higher on Wall Street. This came after it was announced that oil company Saudi Aramco had signed agreements worth approximately $90 billion with several large American companies, including the chip manufacturer. The agreement with Nvidia relates to infrastructure surrounding artificial intelligence (AI).

The chipmaker built on its 5.6 percent gain the day before. At that time, US President Donald Trump signed an important economic cooperation agreement with Saudi Crown Prince Mohammed bin Salman. The agreement stipulates that Nvidia will help strengthen the development of AI and cloud applications in Saudi Arabia.

The overall mood on Wall Street was mixed. The Dow Jones index closed 0.2 percent lower, while the broad S&P 500 rose 0.1 percent and the Nasdaq tech index gained 0.7 percent.

UnitedHealth ended the trading day 1.1 percent lower after an opening gain. On Tuesday, the healthcare group plummeted nearly 18 percent due to the unexpected departure of its CEO and the withdrawal of its financial forecasts.

Boeing gained 0.6 percent after Qatar Airways signed a deal with the aircraft manufacturer for the delivery of up to 210 aircraft, including 777X and 787 Dreamliner models, worth $96 billion.