Companies unveil new investment and sales agreements in the areas of AI, energy, finance, and aerospace.
WASHINGTON—President Donald Trump on Nov. 19 touted $270 billion in new business deals signed between the United States and Saudi Arabia in energy, artificial intelligence, finance, and aerospace.
Speaking at the U.S.–Saudi Investment Forum at the Kennedy Center in Washington, held during Saudi Crown Prince Mohammed bin Salman’s formal visit this week, Trump attributed the surge in investments to his economic policies.
“We’re told that $270 billion in agreements and sales are being signed between dozens of companies, and that’s just happening today,” Trump said. “That’s big stuff.”
On Nov. 19, oil giant Saudi Aramco said it had signed 17 memoranda of understanding and agreements with U.S. companies worth more than $30 billion.
The projects cover liquefied natural gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services, according to the company.
GE Aerospace will supply dozens of airplane engines for Boeing 787 Dreamliners owned by Saudi Arabia’s flag carrier Saudia.
The contract also includes a comprehensive maintenance, repair, and overhaul program, as well as spare engines.
In addition, Saudi AI company Humain announced that it has launched a joint venture with AMD and Cisco to build AI data centers, starting with a 100-megawatt facility in Saudi Arabia.
The company is also partnering with Elon Musk’s xAI to build a 500‑megawatt data center in the kingdom.
Speaking at the forum, Nvidia’s CEO, Jensen Huang, said his company is working with Saudi Arabia to build supercomputers.
On Nov. 18, the United States and Saudi Arabia signed agreements on civil nuclear energy, critical minerals, and artificial intelligence, according to a White House fact sheet.
“The partnership between our two nations is among the most consequential in the entire world,” Trump said at the investment forum.
“And together, the crown prince and I are making our alliance stronger and more powerful than it’s ever been before.”
Both countries also signed the U.S.-Saudi Strategic Defense Agreement.
Trump has approved a defense sale package, including the future sale of F-35 fighter jets and nearly 300 U.S.-made tanks, according to the fact sheet.
“We’re going to be selling Saudi Arabia some of the greatest military equipment ever built,” Trump said.
By Emel Akan
