US President Donald Trump secured a $600 billion commitment from Saudi Arabia on Tuesday to invest in the United States as he kicked off a Gulf tour in Riyadh where he was welcomed by Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister.
The leaders signed an agreement on energy, defense, mining and other areas, which the White House said will “build economic ties that will endure for generations to come.”
“The deals celebrated today are historic and transformative for both countries and represent a new golden era of partnership between the United States and Saudi Arabia,” it added in a statement.
Among the agreements secured on Tuesday: Saudi Arabian DataVolt is moving forward with plans to invest $20 billion in AI data centers and energy infrastructure in the United States.
Google, DataVolt, Oracle, Salesforce, AMD, and Uber are committing to invest $80 billion in cutting-edge transformative technologies in both countries, said the White House.
American companies including Hill International, Jacobs, Parsons, and AECOM are building key infrastructure projects like King Salman International Airport, King Salman Park, The Vault, Qiddiya City, and much more totaling $2 billion in US services exports.
Additional major exports include GE Vernova’s gas turbines and energy solutions totaling $14.2 billion and Boeing 737-8 passenger aircraft for AviLease totaling $4.8 billion.
Investment partnerships include several sector-specific funds with a strong emphasis on US deployment, such as the $5 billion Energy Investment Fund, the $5 billion New Era Aerospace and Defense Technology Fund, and the $4 billion Enfield Sports Global Sports Fund.
Trump had arrived in the Kingdom earlier on Tuesday on his first overseas trip since his reelection. He will next visit the United Arab Emirates and Qatar.
Saudi Arabia and the United States also signed the largest defense sales agreement in history, worth nearly early $142 billion.
