Donald Trump in Saudi Arabia as $600bn investment in US businesses announced
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and President Donald J. Trump of the United States co-chaired the Saudi-US Summit at the Royal Court in Al-Yamamah Palace.
The summit addressed bilateral relations and coordination efforts to enhance the strategic partnership between the two friendly countries across various sectors. Discussions also covered the latest regional and international developments, issues of mutual interest, and efforts to promote security and stability.
Donald Trump announces massive Saudi investments in US
In addition to diplomatic talks there was a slew of multi-billion dollar business announcements.
President Donald J. Trump announced Saudi Arabia's $600bn commitment to invest in the United States.
The first deals under the announcement include security, defence industry, technology and infrastructure deals.
The United States and Saudi Arabia signed a $142bn arms deal, which the White House dubbed as the 'largest defence sales agreement in history' to kick off the investment drive.
The US Government said the deal will supply 'Saudi Arabia with state-of-the-art warfighting equipment and services from over a dozen US defence firms'.
The sales fall into five broad categories:
Air force advancement and space capabilities
Air and missile defence
Maritime and coastal security
Border security and land forces modernisation
Information and communication systems upgrades
The package also includes extensive training and support to build the capacity of the Saudi armed forces, including enhancement of Saudi service academies and military medical services.
The first stop of Donald Trump's four-day diplomatic tour to the Gulf states was aimed at securing big deals and spotlighting the benefits of Donald Trump's transactional foreign policy.
US tech firms were other big winners as Saudi Arabia confirmed big deals for AI and technology companies during Donald Trump's visit.
Oracle is accelerating investments in Saudi Arabia and has announced an investment of $14bn over the next 10 years to bring the cloud and AI technology to the Kingdom.
The tech giant said the partnership will help improve the lives of the Saudi people, while bringing greater security and intelligence to the Kingdom, strengthening its sovereignty and deepening its alliance with the United States.
Safra Catz, CEO of Oracle, said: 'Thanks to the decisive actions and strong leadership of President Trump and his administration, Oracle is providing the world's most advanced cloud and AI technology to Saudi Arabia.
'Our expanded partnership with the Kingdom will create new opportunities for its economy, deliver better health outcomes for its people, and fortify its alliance with the United States, which will create a ripple effect of peace and prosperity across the Middle East and around the world.'
Nvidia said it will sell hundreds of thousands of AI chips in Saudi Arabia.
The sales begin with more than 18,000 of its 'Blackwell' chips going to Saudi-backed AI startup Humain. Chip giant AMD also announced a deal with Humain, with a $10bn collaboration.
DataVolt moving forward with plans to invest $20bn in AI data centres and energy infrastructure in the United States
Google, DataVolt, Oracle, Salesforce, AMD, and Uber committing to invest $80bn in cutting-edge transformative technologies in both countries
American companies including Hill International, Jacobs, Parsons, and AECOM building key infrastructure projects, including King Salman International Airport, King Salman Park, The Vault, Qiddiya City, and more, totalling $2bn in US services exports
Additional major exports include GE Vernova's gas turbines and energy solutions worth $14.2bn and Boeing 737-8 passenger aircraft for AviLease totalling $4.8bn
In the healthcare sector, Shamekh IV Solutions will invest $5.8bn, including a plant in Michigan to launch a high-capacity IV fluid facility
Investment partnerships include several sector-specific funds with a strong emphasis on US deployment—such as the $5bn Energy Investment Fund, the $5bn New Era Aerospace and Defence Technology Fund, and the $4bn Enfield Sports Global Sports Fund
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