Nvidia topped a $3 trillion valuation for the first time since February. A fresh AI partnership with Saudi Arabia was boosting the stock on Tuesday.

Nvidia CEO Jensen Huang's personal net worth jumped to around $120 billion on Tuesday, up from $80 billion last year, as a boom in demand for the company's artificial intelligence chips has powered a steep rally in its shares.

Other semiconductor stocks also did well Monday after Beijing and Washington agreed to drastically reduce tariffs for 90 days while talks on a more permanent deal continue.