Saudi Crown Prince’s Washington Trip Signals Future-Focused Strategic Shift

WASHINGTON, DC - NOVEMBER 19: Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia and US President Donald Trump stand for a photo with other participants at the US-Saudi Investment Forum at the Kennedy Center on November 19, 2025 in Washington, DC. Win McNamee/Getty Images/AFP
WASHINGTON, DC - NOVEMBER 19: Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia and US President Donald Trump stand for a photo with other participants at the US-Saudi Investment Forum at the Kennedy Center on November 19, 2025 in Washington, DC. Win McNamee/Getty Images/AFP
TT

Saudi Crown Prince’s Washington Trip Signals Future-Focused Strategic Shift

WASHINGTON, DC - NOVEMBER 19: Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia and US President Donald Trump stand for a photo with other participants at the US-Saudi Investment Forum at the Kennedy Center on November 19, 2025 in Washington, DC. Win McNamee/Getty Images/AFP
WASHINGTON, DC - NOVEMBER 19: Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia and US President Donald Trump stand for a photo with other participants at the US-Saudi Investment Forum at the Kennedy Center on November 19, 2025 in Washington, DC. Win McNamee/Getty Images/AFP

Over an intensive 48 hours, Washington became the stage for launching a new phase in the strategic alliance between Saudi Arabia and the United States, an alliance intended to bind the interests of both countries for decades to come.

The move coincided with the visit of Crown Prince Mohammed bin Salman, the Saudi Prime Minister, and built on the foundations set during President Donald Trump’s visit to Riyadh in May.

The meetings were not a mere display of existing ties, but a platform to unveil a strategic economic partnership framework whose pillars were laid during Trump’s trip to Riyadh. The document pushes bilateral cooperation to unprecedented levels of technological and financial integration.

The Crown Prince expressed confidence that this partnership with the US will grow at an unprecedented pace in the coming years, urging both sides to seize the promising opportunities it offers, opportunities driven by economic growth, diversification and innovation.

The Crown Prince said the signing of investment agreements and projects in sectors including defense, energy, artificial intelligence, rare minerals and finance will create substantial employment opportunities in both countries.

One of the longest economic partnerships

Total investments and agreements between American and Saudi companies reached 575 billion dollars, according to Saudi Investment Minister Khalid Al-Falih, strengthening what he described as “one of the longest and most dynamic economic partnerships in the world.”

This includes 307 billion dollars announced during Trump’s visit to Riyadh in May, additional bilateral commitments that followed, and 267 billion dollars in new deals unveiled at the 2025 US-Saudi Investment Forum.

Beyond the signing of a massive package of agreements exceeding 575 billion dollars, the most significant signal was the Crown Prince’s pledge to increase Saudi investment plans in the United States to 1 trillion dollars.

Trump described the financial commitment as evidence of the strength of the strategic alliance, saying it reinforces the relationship as a balanced partnership between the world’s largest economy and the Arab world’s largest economy, and marks a shift toward strategic investments in the sectors of the future.

Axes of the visit

The historic visit produced three main pillars:

First, artificial intelligence

The signing of the Strategic Artificial Intelligence Partnership between Saudi Arabia and the US marked a pivotal turning point in the nature of the bilateral relationship. The partnership is no longer limited to commercial cooperation, it lays the groundwork for a new phase of comprehensive and long term economic security.

A joint statement by the foreign ministers of the two countries said the understanding reflects a firm commitment to boosting innovation and technological progress, and to using advanced and emerging technologies to deepen shared security objectives.

This places artificial intelligence at the core of the security umbrella, making the stability of data and chip supply chains inside the Kingdom an integral part of US strategic interests.

The White House said the agreements will give the Kingdom access to world leading US systems while protecting US technology from foreign influence.

The partnership aims to cement the Kingdom’s position as a global computing hub, capitalizing on leading American technology.

Technological enablement: The partnership expands Saudi access to advanced US systems, reflected in the Commerce Department’s approval to export cutting edge Nvidia Blackwell chips, removing the biggest constraint on sector growth.

Infrastructure development: The partnership supports plans to build massive supercomputing hubs in the Kingdom. Companies such as Elon Musk’s firms and Nvidia announced large scale projects and high capacity computing centers of 500 megawatts or more, citing Saudi Arabia’s competitive advantages in energy, land availability and geographic location, which position it as a global center for cloud computing and AI services.

Digital sovereignty: Financial market cooperation includes a memorandum of understanding on education and training, signaling the Kingdom’s focus on building local knowledge and human capacity to secure “computational sovereignty” and lead future AI applications.

HUMAIN at the center: The shift is embodied in the prominent role of HUMAIN, the Saudi Public Investment Fund owned AI company that featured in many joint announcements.

Alongside the joint project announced by Elon Musk between his company xAI, Nvidia and HUMAIN to develop a 500 megawatt artificial intelligence computing center in the Kingdom, Nvidia CEO Jensen Huang praised HUMAIN’s “massive” expansion in the six months since its establishment, saying he is working with Saudi Arabia to train advanced robots and build supercomputers.

HUMAIN is also partnering with US chipmakers AMD and Cisco to develop data centers in the Middle East, beginning with a 100 megawatt facility in the Kingdom to serve Luma AI, a California based generative video producer. HUMAIN led a 900-million-dollar funding round for Luma AI, deepening the Kingdom’s efforts to build what is being described as the “Hollywood of artificial intelligence.”

HUMAIN also announced collaborations with Adobe and Qualcomm to develop Arabic language AI, and a partnership with Global AI to build a data center campus in the US, highlighting its two-way global expansion.

Amazon Web Services and HUMAIN said they will expand their strategic partnership to deploy up to 150,000 AI accelerators inside a major facility in Riyadh known as the Artificial Intelligence Zone.

Second, energy and minerals

The strategic significance of the visit extended beyond artificial intelligence to major advances in energy and minerals, with agreements designed to secure critical supply chains and safeguard future energy sources.

Civil nuclear cooperation: The announcement of the completion of negotiations on civil nuclear energy cooperation, known as the 123 Agreement, was the most important milestone.

The White House said the agreement establishes the legal foundation for a multibillion dollar nuclear partnership spanning decades and supports the Kingdom’s strategic goal of diversifying clean energy sources. The statement said US companies will be the Kingdom’s preferred partner in this field.

Critical minerals: The two sides also signed a “Strategic Framework for Cooperation on Securing Uranium, Metals, Permanent Magnets and Critical Minerals Supply Chains.”

The framework anchors the partnership in economic security, directly linking US interests to Saudi geological resources.

It aims to strengthen global supply chain resilience through projects such as establishing a rare earth refinery with US company MP Materials, the Department of Defense and Saudi mining firm Maaden.

The White House said the critical minerals framework will deepen cooperation and align strategies for diversifying critical mineral supply chains, adding that the agreement builds on similar deals secured by Trump with other trading partners to ensure the resilience of the US supply chain for essential minerals.

Aramco investments: Aramco announced 17 new agreements worth 30 billion dollars, bringing total cooperation with US companies to 120 billion dollars, including expansions into liquefied natural gas and advanced services.

Third, investment and financial markets

The economic and financial dimension was central in reinforcing the depth of the partnership, supported by the Crown Prince’s pledge to raise Saudi investments in the US to nearly 1 trillion dollars.

Investment facilitation: The two sides signed the strategic framework for facilitating procedures to accelerate Saudi investments and the Financial and Economic Partnership Arrangements.

These ensure that investment commitments flow smoothly into US growth sectors, including infrastructure and technology, creating high paying American jobs and supporting shared prosperity.

The US Treasury Department and the Saudi Finance Ministry signed agreements to strengthen cooperation on financial markets, standards and regulatory frameworks. The step is intended to integrate and streamline capital flows, bolstering the resilience of the global financial system.

The two countries also agreed to intensify efforts on trade issues, including reducing trade barriers and recognizing US federal vehicle safety standards, a direct gain for American manufacturers and exporters that supports the Kingdom’s sector modernization at the same time.

Financial markets and trade integration: The visit also produced agreements on cooperation in the financial markets sector aimed at improving governance and regulatory standards.

Dr. Abdullah Al-Jassar, a member of the Saudi Economic Association and the International Association for Energy Economics, told Asharq Al-Awsat that the agreements signed during the Crown Prince’s visit to Washington represent a new phase in the economic relationship between the two countries, particularly in energy, investment and advanced technologies.

He said the deals open the door to high value investments and help develop national skills in advanced fields, supporting economic diversification and strengthening the Kingdom’s position in global energy markets.

“We are looking at long term partnerships that contribute to building a more balanced and sustainable economy,” he said.

In the end, the agenda of the Washington visit was not just a successful diplomatic tour, it was a formal launch of a high stakes partnership for the new era. The agreements place Saudi Arabia and the US on a path toward deep strategic integration.



Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
TT

Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.


Europe, Türkiye Agree to Work Toward Updating Customs Union

European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
TT

Europe, Türkiye Agree to Work Toward Updating Customs Union

European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal

The European enlargement chief and the Turkish foreign minister said on Friday they had agreed to continue work toward modernizing the EU-Türkiye customs union and to improve its implementation, Reuters reported.

European Commissioner for Enlargement Marta Kos met Turkish Foreign Minister Hakan Fidan in the capital Ankara on Friday.

"They shared a willingness to work for paving the way for the modernization of the Customs Union and to achieve its full potential in order to support competitiveness, and economic security and resilience for both sides," they said in a joint statement afterward.

The sides also welcomed the gradual resumption of European Investment Bank (EIB) operations in Türkiye and said they intended to support projects across the country and neighbouring regions in cooperation with the bank.


Bitcoin Falls 8% and Asian Shares Mostly Slip after Wall Street is Hit by Tech Stock Losses

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
TT

Bitcoin Falls 8% and Asian Shares Mostly Slip after Wall Street is Hit by Tech Stock Losses

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

US futures and Asian shares traded mostly lower on Friday, tracking Wall Street’s losses as technology stocks again dragged on markets.

Bitcoin sank to roughly half its record price, giving back all it gained since US President Donald Trump won the White House for his second term.

Tokyo’s Nikkei 225 was up 0.8% to 54,253.68, recovering from losses earlier this week, with technology-related stocks leading gains. SoftBank Group rose 2.2% and chipmaker Tokyo Electron rose 2.6%. Japan will also be holding its general election on Sunday, in which Prime Minister Sanae Takaichi expects to win a stronger public mandate for her policies.

Shares of Toyota Motor were up 2%. The carmaker said Friday its CEO Koji Sato will be stepping down in April, and is to be replaced by Chief Financial Officer Kenta Kon, The Associated Press said.

South Korea’s Kospi lost 1.4% to 5,089.14, weighed down by tech shares. Samsung Electronics, the country’s biggest listed company, fell 0.4%. Chipmaker SK Hynix was also down 0.4%.

Hong Kong’s Hang Seng fell 1.4% to 26,519.60. The Shanghai Composite index was down 0.3% to 4,065.58.

In Australia, the S&P/ASX 200 shed 2% to 8,708.80.

Taiwan’s Taiex was mostly flat. India's Sensex traded 0.1% lower.

Against the backdrop of the technology sell-off this week, bitcoin, the world’s largest cryptocurrency, saw dimming enthusiasm and was trading about 8% lower at just under $65,000 early Friday, after it briefly sank over 12% to below $64,000 on Thursday. That’s down from a record of above $124,000 in October.

The future for the S&P 500 was 0.2% lower, while that for the Dow Jones Industrial Average fell 0.1%.

On Thursday, the S&P 500 fell 1.2% to 6,798.40, its sixth loss in the seven days. The Dow Jones Industrial Average fell 1.2% to 48,908.72. The Nasdaq composite dropped 1.6% to 22,540.59.

Technology stocks were among the worst hit as concerns persist over whether massive AI investments by many of the Big Tech firms will pay off.

Chipmaker Qualcomm sank 8.5% despite better-than-expected quarterly revenues. Alphabet lost 0.5% as investors were focused on its huge spendings on AI.

Amazon fell 11% in after hours trading Thursday after it announced plans to boost capital spending by more than 50% to $200 billion in AI and other areas.

American artificial intelligence startup Anthropic ’s new AI tools also fueled the sell-off of software stocks on Wall Street this week, as its sophistication means many traditional software development services and products could be disrupted or replaced.

Gold and silver prices have been volatile this week following a monthslong rally as investors moved into safe haven assets prompted by factors including elevated geopolitical tensions. Gold prices fell 0.6% on Friday to $4,858.60 per ounce, after nearing $5,600 last week.

Silver prices dropped 5.5% to $72.52 per ounce after rising earlier this week. It lost more than 31% last Friday.

In other dealings early Friday, US benchmark crude oil gained 35 cents to $63.64 a barrel. Brent crude, the international standard, rose 36 cents to $67.91 a barrel.

The US dollar fell to 156.74 Japanese yen from 157.03 yen. The euro was trading at $1.1789, up from $1.1777.