US President Donald Trump hailed Saudi Arabia as America’s “largest ally outside NATO” and described Crown Prince Mohammed bin Salman as “one of the greatest leaders in the world,” during the US–Saudi Investment Forum in Washington on Wednesday. The forum marked a high point in the Crown Prince’s historic visit to the US capital, witnessing the announcement of wide-ranging strategic agreements.
The event, titled “From Riyadh to Washington: The Partnership that Powers Progress,” brought together top government officials and global business leaders from both countries. Announcements revealed that new deals across defense, energy, artificial intelligence, rare minerals, and finance could reach 270 billion dollars in value.
Crown Prince Mohammed bin Salman emphasized the importance of building on the momentum created earlier in the year when he hosted Trump in Riyadh.
He said: “We meet six months after the Saudi–American Forum in Riyadh during your visit, Mr. President (Trump), where we laid the foundations of a partnership based on growth, economic diversification and innovation, and we signed the Strategic Economic Partnership document between our two countries in a historic step to anchor economic cooperation.”
He underscored the significance of the newly announced agreements and their mutual economic impact, saying: “Today we are pleased to sign new investment agreements and projects that include the defense, energy, artificial intelligence, rare minerals and financial sectors, which will contribute to providing job opportunities and economic growth in our two countries.”
The Crown Prince also expressed his wish that the forum would enhance the historic ties between Washington and Riyadh, develop investment relations, and meet the ambitions of both nations. He concluded by thanking President Trump “for his interest in strengthening the economic partnership.”
For his part, Trump praised the evolving alliance, describing the Crown Prince as “a bold leader committed to the relations between our two countries,” and stressed that their joint efforts have made the partnership “stronger than ever.” Trump said the current stage represents “the best nine months the Saudi–US relationship has ever seen.”
Turning to domestic economic policy, Trump linked the forum’s investment announcements to his administration’s industrial strategy. He reiterated his commitment to supporting US energy production, and asserted that the United States is ahead of China in the fields of artificial intelligence and nuclear technology. He added that Washington is ready to help its partners in the semiconductor sector.
The US president also revealed that Crown Prince Mohammed bin Salman had asked him to help resolve the conflict in Sudan, prompting him to engage in the issue.
He stated: “We will work with Saudi Arabia, United Arab Emirates, Egypt, and other Middle Eastern partners to get these atrocities to end, while at the same time stabilizing Sudan.”
The Investment Forum
The forum’s sessions brought together prominent figures shaping global markets. In the Energy Leaders session, Saudi Aramco CEO Amin Nasser, ACWA Power Chairman Mohammad Abunayyan, and Chevron CEO Michael Wirth discussed the future of energy between the two nations.
The session underscored that hydrocarbons continue to make up 80 percent of the global energy mix, with expectations of rising demand beyond 2050. Speakers warned that underinvestment could lead to future supply shortages. Saudi executives also highlighted the Kingdom’s growing role in clean energy and hydrogen, predicting that Saudi Arabia is positioned to become a global hub for clean electricity and hydrogen, capable of powering advanced technologies including artificial intelligence.
Finance and investment leaders, including Saudi National Bank CEO Tareq Al Sadhan and Saudi Tadawul Chair Sarah Al Suhaimi, discussed the attraction of growing foreign investment in the Kingdom, noting that US investors account for a large share of the nearly 100 billion dollars held by foreign entities in the Saudi market. They stressed that the United States and Saudi Arabia are entering a historic era of mutual capital flows.
Artificial intelligence featured prominently in the forum’s closing sessions. Jensen Huang, CEO of NVIDIA, summarized the company’s strategic focus in the Kingdom by stating: “We are working with Saudi Arabia to build future data foundations.”
He highlighted plans to lay the digital infrastructure required for the next wave of AI-driven global growth.
Meanwhile, Elon Musk, CEO of Tesla, SpaceX, and xAI, announced a landmark joint Saudi–American project to build a 500-megawatt artificial intelligence computing center in the Kingdom, in partnership with NVIDIA and Saudi entities. Musk explained that the initiative is part of a broader plan and emphasized that the Kingdom has both the energy capacity and the speed needed to execute it.
