CNBC's Kristina Partsinevelos joins 'Money Movers' with the latest details on how Nvidia chips could supercharge the UAE's energy edge.

The United States has reportedly approved the export of several billion dollars' worth of Nvidia chips to the United Arab Emirates, according to Bloomberg. The chips are expected to power a significant expansion of AI data centers in the UAE, leveraging the country's relatively low electricity costs and substantial investments in energy infrastructure. 

The UAE aims to position itself as a leading hub for artificial intelligence in the Middle East, with plans for a 5-gigawatt AI campus operated by American hyperscalers and continued investment in data center capacity. While American companies like Nvidia currently lead in AI hardware, Chinese competitors are also advancing, particularly in open-source models and infrastructure.

U.S. reportedly approves Nvidia chip sales to UAE

Shares of NVIDIA outperforming today in a red tape after the U.S. reportedly approved the sale of several billion dollars' worth of its chips to the UAE. For today's tech check, our Cristina Parzinevelos has more on how those chips might supercharge the Gulf state's AI ambitions. Hey, KP. And it all has to do with power. So let's start with the U.S. possibly just approving billions of dollars in NVIDIA chip exports to the UAE under an agreement signed in May. And this is according to Bloomberg. Those chips in particular were power, a massive wave of data center construction. And the timing matters because of what's happening here at home. Data centers already account for over 4 percent of U.S. electricity consumption, and that could triple by 2028. In Washington, D.C., for example, residential bills jumped 21 dollars per month starting just in June, with half of that increase driven by data center demand. A single AI data center can consume as much power as 80,000 American households. The UAE, though, doesn't have that problem. Running cutting-edge AI models takes staggering amounts of electricity. The cheaper your energy, the cheaper your intelligence. Business electricity in the UAE costs about 11 cents per kilowatt, roughly 30 percent cheaper than the U.S. average. The country runs on cheap natural gas and nuclear power. Morgan Stanley calls the UAE, quote, an AI leader in the making, with its energy strategy 2050 pushing massive solar investments alongside AI infrastructure. The UAE is also investing 1.5 billion. They had a big announcement not too long ago, a new data center capacity by 2027. Under the U.S.-UAE agreement, this is the United Arab Emirates, by the way, American hyperscalers will operate a massive 5 gigawatt AI campus over there with cutting-edge Nvidia chips and some of the world's cheapest power. The UAE is essentially positioning itself as the Middle East's AI hub. And that's why this AI race isn't just about who trains the smartest model. It's about who can afford to keep it running, guys. And I guess who can build it as well? Is it all American companies? I mean, are there Chinese alternatives that they can turn to? Or is this American data centers being built across the world, including the Middle East? There are a lot of benchmarks, but if you're going for total cost of ownership and just the power that these chips provide, you would probably be geared towards American companies like Nvidia as number one, AMD, and to a certain extent, some of the hyperscalers. But China is catching up, especially when you talk about open source models. And that is a concern that even Jensen Wang raised on our airways just yesterday, that depending on where you are in building the data center infrastructure, China can compete quite well. And then I didn't even mention it. We talked about the UAE, but China does really well with power, right? They don't seem to have constraints like we do here in the United States. So that's another factor for them to keep climbing up when power is not a constraint. Yeah. You've got to have the chips, you've got to have the energy as well, as you point out, and some of the financing. That's the other gating issue. Really fascinating look at the other part of the world in the Middle East. Christina Parts, Neville.

Israeli Prime Minister Benjamin Netanyahu announced that his government has approved a plan to release all remaining hostages in Gaza. The move is part of President Trump’s peace plan and could bring an end to the two-year conflict in the region.

Tel Aviv-Yafo

Israeli government approves framework to release hostages

New York Attorney General Letitia James has been indicted by a grand jury in Alexandria, Virginia. She faces two separate charges, one count of bank fraud and one count of false statements to a financial institution.

Alexandria

Federal grand jury indicts New York AG Letitia James

Israel and the Palestinian militant group Hamas signed an agreement on Thursday to cease fire and free Israeli hostages in exchange for Palestinian prisoners, in the first phase of U.S. President Donald Trump's initiative to end the two-year war in Gaza.

Washington

Middle East Conflict

Trump says Israel hostages to be freed early next week

The U.S. Senate held its seventh round of votes Thursday on Democratic and Republican plans to fund and reopen the government, but once again the bills failed to pass.

Senate votes to reopen government fail again on 9th day of shutdown

The chemistry award is the third 2025 Nobel Prize to be announced this week. Three U.S. scientists won the award in chemistry for creating a new molecular structure.

Stockholm

U.S. scientist trio win Nobel Prize in chemistry

Ukrainian President Volodymyr Zelenskyy accused Russia of wanting to sow "chaos" in Ukraine by launching strikes on his country's energy grid and railway infrastructure, in comments published Thursday.

Kyiv

Ukraine Invasion

Zelenskyy says Russia aims to sow 'chaos' with energy strikes

U.S. President Donald Trump announced Wednesday (October 8) that Hamas has agreed to release hostages and Israel will pull back its troops in Gaza in the "first phase" of a peace deal. CBS News' Debora Patta reports.

Jerusalem

Israel and Hamas agree to phase one of peace deal

Russia and China are sending high-level representatives to North Korea for celebrations honoring 80 years of the ruling party. CBS News' Ramy Inocencio reports.

Pyongyang

Russia, China send representatives to North Korea

The Toronto Blue Jays won Game 4 of their American League Division Series matchup against the New York Yankees to advance to the next round of the Major League Baseball playoffs.

New York

Blue Jays defeat Yankees to advance to ALCS

The ongoing U.S. government shutdown has led to major delays and staffing shortages at airports, raising safety concerns. The flight attendants’ union says reduced oversight and overworked crews are putting additional strain on the aviation system.

Aviation less safe during any government shutdown, union warns

Earlier this week, Transportation Secretary Sean Duffy said one of the reasons for staffing shortages at airports is that a growing number of air traffic controllers have been calling in sick. Those controllers don't know when they'll get their next paycheck amid the government shutdown.

Los Angeles International Airport

Why the government shutdown is playing into travel delays

President Trump says he might travel to the Middle East as soon as this weekend as Israel and Hamas continue indirect negotiations to end the war in Gaza. CBS News senior White House and political correspondent Ed O'Keefe has the details.

Cairo

Trump 'may' go to Egypt or Gaza amid Israel-Hamas peace

A 29-year-old Florida man has been arrested on suspicion of arson in connection with the deadly Palisades Fire that scorched parts of Los Angeles earlier this year, officials said Wednesday.

Los Angeles

Man arrested for allegedly starting Palisades Fire in California

Former FBI Director James Comey pleaded not guilty to two counts in federal court on Wednesday (October 8) after being indicted by the U.S. Department of Justice in September.

James Comey pleads not guilty to charges brought by Trump's DOJ

Some air traffic control staffing issues and bad weather are affecting flight delays as the government shutdown enters its eighth day. CBS News senior transportation correspondent Kris Van Cleave has more details.

Government shutdown, staffing issues lead to flight delays

Hamas’ lead negotiator says the group needs guarantees of a lasting peace as indirect talks with Israel to reach an agreement over the implementation of the first phase of Trump’s peace plan for Gaza enter the third day.

Sharm El-Sheikh

Hamas says it is ready to reach Gaza deal but needs 'real' guarantees

Sebastien Lecornu to hold two days of talks to try to shore up cross-party support for his collapsed government.

Paris

Outgoing French PM launches last bid to quell political crisis

Israel is pressing forward with its attacks across the Gaza Strip. 
Its forces have targeted displaced families in Khan Younis, killing a mother and her children. Several Palestinians have also been killed in a strike on Al Shati refugee camp, in Gaza City.

Israeli strikes intensify in Gaza despite ceasefire talks

Palestinian solidarity demonstrators have marched through Mexico and Chile’s capitals, demanding their governments sever diplomatic ties with Israel. The protests mark the second anniversary of Israel's war on Gaza.

Mexico City

Palestinian solidarity protests sweep Latin America

National Guard troops are preparing to be deployed to Chicago. Members of the Texas National Guard arrived just outside the city on Tuesday. The move is being criticized as an abuse of presidential authority.

Chicago

National Guard troops preparing to deploy in Chicago

U.S. President Donald Trump welcomed Canadian Prime Minister Mark Carney to the White House, where he promised to treat Canada fairly in trade talks, but was less committed to a continental trade deal that also includes Mexico.

Global Tariffs

Trump promises trade fairness for Canada during Carney's visit

From Tel Aviv to the Nova Music Festival site, Israelis gathered to remember those who were killed in the October 2023 Hamas attack.

Israelis remember victims two years after Hamas attack

Saudi Arabia's Riyadh Comedy Festival is attracting global stars including Dave Chappelle, Pete Davidson and Kevin Hart, with reports that some are being paid more than $1 million each. The event is part of Crown Prince Mohammed bin Salman's push to rebrand the conservative kingdom through sports and entertainment.

Riyadh

Riyadh Comedy Festival draws top U.S. comedians amid controversy

Three U.S.-based scientists have won the Nobel Prize in physics for their work on quantum mechanics. The physics award is the second 2025 Nobel Prize to be announced this week.

Three U.S.-based scientists win Nobel Prize in physics

As the war in Gaza reaches its two-year mark, Israel and Hamas continue negotiations in Egypt. Talks are centered on a proposed ceasefire deal, which includes a partial Israeli withdrawal from Gaza and a hostage-prisoner exchange.

Israel and Hamas resume Gaza ceasefire talks in Egypt

Israel has deported activist Greta Thunberg along with 170 others who were detained after Israeli forces intercepted a flotilla attempting to deliver aid to Gaza last week. Some of those deported in recent days have reported mistreatment, allegations that Israel has denied.

Israel deports Greta Thunberg after Gaza Flotilla interception

Leaders in the U.S. state of Illinois are taking President Donald Trump to court, looking to stop the deployment of hundreds of National Guard troops to the streets of Chicago. The White House argues that soldiers are needed to prevent so-called lawlessness.

Chicago declares 'ICE Free Zones' amid clashes over raids

French President Emmanuel Macron has given Prime Minister Sebastien Lecornu 48 hours to stabilize the government following his sudden resignation. Lecornu stepped down hours after naming his cabinet, amid criticism and growing political instability in a parliament without a clear majority.

Macron gives Lecornu two days to salvage government after resignation

Microchip maker AMD got a huge boost in the race to supply the artificial intelligence revolution. OpenAI, the company behind major AI platform ChatGPT, announced a deal for AMD to provide the AI startup with its high-performance processing chips starting next year.

Santa Clara

Rise of AI

AI chipmaker AMD strikes major deal with OpenAI

It's a race against time to save the remaining 200 or so stranded climbers on Mount Everest after a massive storm dumped at least three feet of snow over the weekend.

Breakdown