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Elon Musk in Riyadh: Robotics and AI Drive Saudi-US Strategic Partnership

Tesla, SpaceX, and xAI CEO Elon Musk and Saudi Minister of Communications and Information Technology Abdullah Alswaha speak at the Saudi-US Investment Forum in Riyadh on Tuesday. (SPA)
Tesla, SpaceX, and xAI CEO Elon Musk and Saudi Minister of Communications and Information Technology Abdullah Alswaha speak at the Saudi-US Investment Forum in Riyadh on Tuesday. (SPA)
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Elon Musk in Riyadh: Robotics and AI Drive Saudi-US Strategic Partnership

Tesla, SpaceX, and xAI CEO Elon Musk and Saudi Minister of Communications and Information Technology Abdullah Alswaha speak at the Saudi-US Investment Forum in Riyadh on Tuesday. (SPA)
Tesla, SpaceX, and xAI CEO Elon Musk and Saudi Minister of Communications and Information Technology Abdullah Alswaha speak at the Saudi-US Investment Forum in Riyadh on Tuesday. (SPA)

Tesla, SpaceX, and xAI CEO Elon Musk and Saudi Minister of Communications and Information Technology Abdullah Alswaha took part on Tuesday in a high-profile dialogue session during the Saudi-US Investment Forum in Riyadh. The event underscored the strategic partnership between Saudi Arabia and the United States.

Alswaha said relationship between the two nations has entered a new phase, moving from an energy-based economy to one driven by innovation, technology, and artificial intelligence (AI), praising Musk's influence in advancing global technological transformation.

The minister stressed that under the leadership of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Saudi Arabia has aimed to adopt transformative technologies, such as AI and robotics, positioning the Kingdom as a global innovation platform and a major hub for AI and the digital economy.

He also highlighted the Kingdom’s progress in enabling cloud services, digital infrastructure, and AI value chains, saying these efforts reflect Saudi Arabia’s ambition to lead in the post-data era. He underlined the Kingdom’s goal of becoming a hub for responsible and effective AI innovation.

The strategic partnership between Saudi Arabia and the United States is a foundation for building a smarter, more just, and sustainable global economy, he stressed, while underscoring the need for continued collaboration to drive innovation for the benefit of humanity.

For his part, Musk said humanoid robots represent a productivity revolution that could expand the global economy tenfold. This could lead to an economy of abundance and a model of “comprehensive high income” that goes beyond the traditional universal basic income concept.

He thanked Saudi Arabia for adopting the Starlink service in the aviation and maritime sectors, describing it as a significant step toward supporting the future of global communications technology.

He discussed potential cooperation in smart mobility, including RoboTaxi projects and The Boring Company’s tunnel transportation systems for Saudi cities. Such technologies, he said, could transform urban areas and improve transit efficiency.

Musk closed the session with an optimistic outlook for humanity, urging a model of progress that blends prosperity, exploration, and coexistence with advanced technology. He called for international cooperation to establish ethical frameworks for AI and emerging technologies.

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Taiwan May Exports Hit Record on AI Demand and Ahead of US Tariffs

A man rides a motobike on the street with wind turbines in the background, in Changhua, Taiwan May 9, 2025. REUTERS/Ann Wang
A man rides a motobike on the street with wind turbines in the background, in Changhua, Taiwan May 9, 2025. REUTERS/Ann Wang
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Taiwan May Exports Hit Record on AI Demand and Ahead of US Tariffs

A man rides a motobike on the street with wind turbines in the background, in Changhua, Taiwan May 9, 2025. REUTERS/Ann Wang
A man rides a motobike on the street with wind turbines in the background, in Changhua, Taiwan May 9, 2025. REUTERS/Ann Wang

Taiwan's exports surged to a record in May on booming demand for artificial intelligence and as customers placed orders ahead of US tariffs which could take effect next month after a suspension period expires.

Exports increased 38.6% from the same month a year ago - the fastest pace in almost 15 years - to $51.74 billion, a record high and the first time the value of exports has exceeded $50 billion, the finance ministry said on Monday.

The expansion, the 19th consecutive monthly gain, was higher than the 25% expected by economists in a Reuters poll and surpassed April's 29.9% rise.

Taiwan companies such as TSMC , the world's largest contract chipmaker, are major suppliers to Apple , Nvidia and other tech giants.

May exports benefited from continued strong AI demand and customers bringing forward orders to hedge against the possibility of increased U.S. tariffs, the ministry said in a statement.

US President Donald Trump planned a 32% import levy on goods from Taiwan under his global tariff regime, until he announced a 90-day pause in April to allow for trade negotiations.

While AI and other new technologies should continue to support Taiwan's exports, the uncertainty surrounding the US tariffs and geopolitical risks could undermine the global economic outlook, the ministry said.

For June, the ministry expects exports to rise between 15% and 25% year-on-year.

In May, Taiwan's exports to the United States soared 87.4% year-on-year to $15.52 billion, a record in terms of growth and value, versus a 29.5% surge in the prior month.

Exports to China, Taiwan's biggest trading partner, climbed 16.6%, after rising 22.3% in April.

Taiwan's total exports of electronic components gained 28.4% in May on the year to $17.2 billion, with semiconductor exports up 30.1%.

Imports rose 25% to $39.13 billion, lower than economists' forecasts of 30.2%.