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Kuwait Times
18-05-2025
- Business
- Kuwait Times
Trump announces $200 billion in deals during UAE visit, AI agreement signed
Gulf aims to join global AI centers • Agreement to allow US chip imports ABU DHABI: President Donald Trump on Thursday pledged to strengthen US ties to the United Arab Emirates and announced deals with the Gulf state totaling over $200 billion and the two countries also agreed to deepen cooperation in artificial intelligence. After Trump's meeting with UAE President Sheikh Mohamed bin Zayed Al-Nahyan, the White House said he announced deals that included a $14.5 billion commitment from Etihad Airways to invest in 28 Boeing and 777x aircraft powered by engines made by GE Aerospace. The US Commerce Department said the two countries also agreed to establish a 'US-UAE AI Acceleration Partnership' framework and Trump and Sheikh Mohamed attended the unveiling of a new 5GW AI campus, which would be the largest outside the United States. Sources have said the agreements will give the Gulf country expanded access to advanced artificial intelligence chips from the US after previously facing restrictions over Washington's concerns that China could access the technology. Trump began a visit to the UAE on the latest stage of a tour of wealthy Gulf states after hailing plans by Doha to invest $10 billion in a US military facility during a trip to Qatar. ABU DHABI: US President Donald Trump (right) listens to a presentation on civil aviation investments during a business forum in Abu Dhabi on May 16, 2025. -- AFP 'I have absolutely no doubt that the relationship will only get bigger and better,' Trump said in a meeting with UAE President Sheikh Mohamed bin Zayed Al-Nahyan. 'Your wonderful brother came to Washington a few weeks ago and he told us about your generous statement as to the 1.4 trillion,' Trump said, referring to a UAE pledge to invest $1.4 trillion in the US over 10 years. Trump was referring to Sheikh Tahnoon bin Zayed Al-Nahyan, Sheikh Mohamed's brother and the UAE's national security adviser and chairman of two of Abu Dhabi's deep-pocketed sovereign wealth funds. A White House fact sheet said Trump had secured $200 billion in new US-UAE deals and accelerated the previously committed $1.4 trillion. It said Emirates Global Aluminum would invest to develop a $4 billion primary aluminum smelter project in Oklahoma, while ExxonMobil Corp, Occidental Petroleum, and EOG Resources were partnering with the Abu Dhabi National Oil Company in expanded oil and natural gas production valued at $60 billion. Sheikh Mohamed told Trump the UAE was 'keen to continue and strengthen this friendship for the benefit of the two countries and peoples,' adding to Trump: 'your presence here today, your excellency, the president, confirms that this keenness is mutual.' Before his departure for the UAE, Trump said in a speech to US troops at the Al-Udeid Air Base southwest of Doha that defense purchases signed by Qatar on Wednesday were worth $42 billion. UAE has been seeking US help to make the wealthy Gulf nation a global leader in artificial intelligence. The US has a preliminary agreement with the UAE to allow it to import 500,000 of Nvidia's most advanced AI chips a year, starting this year, Reuters reported on Wednesday. The deal would boost the UAE's construction of data centers vital to developing AI models, although the agreement has provoked national security concerns among sectors of the US government. The AI agreement 'includes the UAE committing to invest in, build, or finance US data centers that are at least as large and as powerful as those in the UAE,' the White House said. 'The agreement also contains historic commitments by the UAE to further align their national security regulations with the United States, including strong protections to prevent the diversion of US-origin technology.' Former US President Joe Biden's administration had imposed strict oversight of exports of US AI chips to the Middle East and other regions. Among Biden's fears were that the prized semiconductors would be diverted to China and buttress its military strength. At the UAE presidential palace, Trump and Sheikh Mohamed could be seen in TV footage in conversation with Nvidia CEO Jensen Huang. Trump said he would probably return to Washington on Friday after a regional trip that began on Tuesday, although he said it was 'almost destination unknown.' Trump had hinted he could stop in Istanbul for talks on Ukraine. Other big business agreements have been signed during Trump's four-day swing through the Gulf region, including a deal for Qatar Airways to purchase up to 210 Boeing widebody jets, a $600 billion commitment from Saudi Arabia to invest in the US and $142 billion in US arms sales to the kingdom. The trip has also brought a flurry of diplomacy. Trump said in Qatar that the United States was getting very close to securing a nuclear deal with Iran, and Tehran had 'sort of' agreed to the terms. He also announced on Tuesday the US would remove longstanding sanctions on Syria and subsequently met with Syrian interim President Ahmed Al-Sharaa. — Reuters
Middle East Eye
16-05-2025
- Business
- Middle East Eye
Trump announces 'very big contract' for UAE to buy AI chips on last leg of Gulf trip
US President Donald Trump capped his whirlwind tour of the Gulf by announcing $200bn in deals with the United Arab Emirates and "a very big contract" for the Gulf state to buy advanced Artificial Intelligence chips. The list of deals with the UAE includes the type of traditional commercial agreements the US often signs with Gulf rulers, according to the White House. The UAE's Etihad Airways committed to buy $14.5bn worth of Boeing 787 and 777x aircraft with General Electric engines. ExxonMobile, Occidental Petroleum and EOG Resources said they would partner with Abu Dhabi National Oil Company to expand oil and natural gas production in a deal valued at $60bn. A $4bn dollar project by Emirates Global Aluminium appeared to especially draw Trump's attention, which he used to praise his tariff policy. The company said it would open the first aluminium smelter in the US since 1980. 'Here's a big, very special project,' Trump said on Thursday. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters 'Investing $4bn in Oklahoma. See, they are doing all of this work in the US with the aluminium…if they do it here (the UAE) they have to pay a big tariff to send it in… you're going to make it in the US. That's amazing," he added. The US also said it secured a $1.4 trillion investment pledge from the UAE over ten years, but like other pledges announced by Trump, it's unclear if it will materialise. That figure is more than 200 percent of the UAE's annual GDP. But it's the deals announced around AI that have drawn the most attention. 'Yesterday, the two countries also agreed to create a path for the UAE to buy some of the world's most advanced AI semiconductors from American companies, it's a very big contract,' Trump said while attending the US-UAE Business Council breakfast on Friday. The UAE and Saudi Arabia appear on the cusp of purchasing millions of AI chips from US companies and using American technology to build Data centres. The sale of such huge quantities of AI chips to the Gulf has sparked a rally in semiconductor stocks, but is becoming a contentious issue in Washington. Trump gives tech stocks their first Gulf-driven rally Read More » On Thursday, the US and UAE signed an agreement for the Gulf country to build the largest AI campus outside the US. The UAE's state-owned tech group, G42, plans to operate the campus. The New York Times reported that Nvidia would sell hundreds of thousands of the most advanced chips annually to the UAE, as it builds the data centre hubs. According to the report, the vast majority of the chips would go to US cloud service providers, and about 100,000 to G42. US chipmaker Qualcomm also announced plans to help develop a new 'global engineering center' in Abu Dhabi. The deals depend on the Trump administration allowing the UAE to import potentially up to one million advanced semiconductors manufactured by US companies. The Biden administration severely restricted which chips the Gulf states could buy. The UAE and Saudi Arabia lobbied the Trump administration in recent months to address concerns that they could be trusted with American products and not leak the technology to China. Earlier this week, Trump's Department of Commerce (DOC) said it was cancelling the Biden administration's "AI Diffusion Rule", which restricted chip exports, calling it 'misguided'. On Thursday, the DOC announced the establishment of a "US-UAE AI Acceleration Partnership' to establish a framework to protect US technology.
Dubai Eye
16-05-2025
- Business
- Dubai Eye
UAE, US Presidents focus on boosting ties in 'future-focused industries'
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has highlighted continued efforts in "driving investments in future-focused industries such as AI and advanced technology" following talks with Donald Trump. "For over 50 years, the enduring UAE-US strategic partnership has served as a foundation of shared progress, and our nations remain committed to advancing prosperity, stability, and development in our regions and worldwide," Sheikh Mohamed wrote in a social media post. During the meeting in Abu Dhabi, the leaders focused on strengthening strategic partnership across various fields, national news agency Wam reported. Sheikh Mohamed also commended Trump's efforts to enhance UAE-US relations since taking office, noting that the two nations share a vision of further progress and prosperity. Following the meeting, Sheikh Mohamed and Trump also attended the unveiling of a new 5GW AI campus, which would be the largest outside the US. I was pleased to welcome US President Donald Trump (@POTUS) to Abu Dhabi. Together, we expressed our determination to continue driving investment in future-focused industries such as AI and advanced technology for the benefit of humanity. For over 50 years, the enduring UAE-US… — محمد بن زايد (@MohamedBinZayed) May 15, 2025 In an update, the White House said Trump had secured $200 billion in new US-UAE deals and accelerated the previously committed $1.4 trillion. It said deals included a $7.5 billion commitment from Etihad Airways to invest in 28 Boeing 787 and 777x aircraft powered by engines made by GE Aerospace. These aircraft are expected to join the fleet from 2028 onwards and will support Etihad's existing plans for growth in connectivity, operational efficiency, and guest experience. 'This commitment reflects our approach of carefully managing our fleet and expanding in line with demand and our long-term network plans,' said Antonoaldo Neves, Chief Executive Officer, Etihad Airways. The White House added that Emirates Global Aluminum will invest to develop a $4 billion primary aluminum smelter project in Oklahoma, while ExxonMobil Corp, Occidental Petroleum, and EOG Resources were partnering with the Abu Dhabi National Oil Company in expanded oil and natural gas production valued at $60 billion. The agreements will reportedly give the UAE expanded access to advanced AI chips from the US. The two leaders explored opportunities to expand collaboration, particularly across the fields of investment, energy, advanced technology, artificial intelligence, industry, and other areas that support the two countries' determination to foster a more prosperous future. Trump also signed the guestbook at Qasr Al Watan, expressing his pleasure at visiting the UAE and affirmed the enduring and strategic partnership with UAE-US relations. US President signs VIP guestbook at Qasr Al Watan in Abu Dhabi #UAE_welcomes_US_President #WamNews — WAM English (@WAMNEWS_ENG) May 15, 2025
TAG 91.1
16-05-2025
- Business
- TAG 91.1
UAE, US Presidents focus on boosting ties in 'future-focused industries'
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has highlighted the determination of the UAE and US "to continue driving investments in future-focused industries such as AI and advanced technology" following talks with Donald Trump. "For over 50 years, the enduring UAE-US strategic partnership has served as a foundation of shared progress, and our nations remain committed to advancing prosperity, stability, and development in our regions and worldwide," Sheikh Mohamed wrote in a social media post. I was pleased to welcome US President Donald Trump (@POTUS) to Abu Dhabi. Together, we expressed our determination to continue driving investment in future-focused industries such as AI and advanced technology for the benefit of humanity. For over 50 years, the enduring UAE-US… — محمد بن زايد (@MohamedBinZayed) May 15, 2025 During the meeting in Abu Dhabi, the leaders focused on strengthening strategic partnership between the two countries, as well as ways to strengthen cooperation across various fields, national news agency Wam reported. Sheikh Mohamed also commended Trump's efforts to enhance UAE-US relations since taking office, noting that the two nations share a vision of further progress and prosperity. Following the meeting, Sheikh Mohamed and Trump also attended the unveiling of a new 5GW AI campus, which would be the largest outside the US. The two leaders explored opportunities to expand collaboration, particularly across the fields of investment, energy, advanced technology, artificial intelligence, industry, and other areas that support the two countries' determination to foster a more prosperous future. Trump also signed the guestbook at Qasr Al Watan, expressing his pleasure at visiting the UAE and affirmed the enduring and strategic partnership with UAE-US relations. After the meeting, the White House said Trump had secured $200 billion in new US-UAE deals and accelerated the previously committed $1.4 trillion. It said deals included a $14.5 billion commitment from Etihad Airways to invest in 28 Boeing 787 and 777x aircraft powered by engines made by GE Aerospace. It added that Emirates Global Aluminum will invest to develop a $4 billion primary aluminum smelter project in Oklahoma, while ExxonMobil Corp, Occidental Petroleum, and EOG Resources were partnering with the Abu Dhabi National Oil Company in expanded oil and natural gas production valued at $60 billion. The agreements will reportedly give the UAE expanded access to advanced AI chips from the US.
The Hindu
16-05-2025
- Business
- The Hindu
Trump UAE deals: U.S. President announces $200 billion in deals, AI agreement signed
U.S. President Donald Trump on Thursday (May 15, 2025) pledged to strengthen U.S. ties to the United Arab Emirates and announced deals with the Gulf state totalling over $200 billion and the two countries also agreed to deepen cooperation in artificial intelligence. After Mr. Trump's meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, the White House said he announced deals that included a $14.5 billion commitment from Etihad Airways to invest in 28 Boeing 787 and 777x aircraft powered by engines made by GE Aerospace. Etihad did not immediately respond to a request for comment. GE and Boeing did not comment. 'With the inclusion of the next-generation 777X in its fleet plan, the investment deepens the longstanding commercial aviation partnership between the UAE and the United States, fueling American manufacturing, driving exports,' the White House said. The U.S. Commerce Department said the two countries also agreed to establish a 'U.S.-UAE AI Acceleration Partnership' framework and Mr. Trump and Sheikh Mohamed attended the unveiling of a new 5GW AI campus, which would be the largest outside the United States. Such a long-coveted deal is a major win for the UAE, which has been trying to balance its relations with its longtime ally the U.S. and its largest trading partner China. The UAE, a major oil producer, has been spending billions of dollars in a push to become a global AI player. But its ties to China had limited access to U.S. chips under former President Joe Biden. The AI agreement 'includes the UAE committing to invest in, build, or finance U.S. data centers that are at least as large and as powerful as those in the UAE,' the White House said. 'The agreement also contains historic commitments by the UAE to further align their national security regulations with the United States, including strong protections to prevent the diversion of U.S.-origin technology,' it added.
