NVIDIA (NVDA) Strikes $2.36B AI Data Center Deal With Malaysia’s YTL Power

NVIDIA Corporation (NASDAQ:NVDA) ranks among the best stocks to buy for the next 6 months. On July 29, NVIDIA Corporation (NASDAQ:NVDA) and YTL Power International Bhd have inked a strategic collaboration deal worth RM10 billion ($2.36 billion) to use NVIDIA’s high-performance graphics processing units to build AI data centers.

NVIDIA (NVDA) Strikes $2.36B AI Data Center Deal With Malaysia’s YTL Power

According to Investment, Trade, and Industry Minister Tengju Zafrul, the agreement also calls for the creation of a sovereign large language model for Malaysia. Additionally, NVIDIA Corporation (NASDAQ:NVDA) and YTL will reportedly work with suppliers, local contractors, and technology partners to develop an AI ecosystem for the country.

Prior to this arrangement, YTL and NVIDIA Corporation (NASDAQ:NVDA) announced plans to invest $4.3 billion in supercomputer and cloud infrastructure for artificial intelligence in Malaysia back in December 2023.

NVIDIA Corporation (NASDAQ:NVDA), a world leader in networking and graphics processing, provides GPUs for the AI, gaming, HPC, and other industries. The company’s products span data centers, gaming, professional visualization, and the automotive markets.

While we acknowledge the potential of NVDA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.