Kazakhstan Secures $2 Billion Nvidia AI Chip Deal Amid Market Turmoil

Nvidia's $2 billion AI chip agreement with Kazakhstan emerges as a strategic bright spot during a brutal market selloff that erased $450 billion from the company's valuation. The deal, reported by Bloomberg, coincides with Wall Street's accelerated divestment from the semiconductor giant, triggering its steepest decline since January.

President Kassym-Jomart Tokayev is aggressively positioning Kazakhstan as a Eurasian digital leader, establishing a dedicated Ministry of Artificial Intelligence and Digital Development. The new body replaces the former Digital Ministry and will direct AI integration across government operations, with 93% of public services already digitized. A presidential AI Development Council will advise on implementation.

This AI infrastructure push contrasts sharply with cooling chip sector sentiment in Western markets. Kazakhstan's digital foundations appear robust—national internet penetration reaches 92.9%, nearly matching Germany's connectivity rates—as the nation targets full digital sovereignty within three years.