Saudi Arabia and US Sign Multi-Billion Dollar Agreements During Trump's State Visit - PRESS AI WORLD
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Saudi Arabia and US Sign Multi-Billion Dollar Agreements During Trump's State Visit

share-iconPublished: Thursday, May 15 share-iconUpdated: Thursday, May 15 comment-icon6 months ago
Saudi Arabia and US Sign Multi-Billion Dollar Agreements During Trump's State Visit

Credited from: AA

  • The US and Saudi Arabia signed over $300 billion in agreements during Trump's visit.
  • Major arms deal worth nearly $142 billion was announced by the White House.
  • Saudi investments include $20 billion in AI data centers in the US.
  • Crown Prince Mohammed bin Salman envisions $600 billion in overall investments.
  • Trump praised Saudi achievements and their economic ties with the US.

The United States and Saudi Arabia finalized agreements valued over $300 billion during President Donald Trump's visit, highlighting strong bilateral ties and joint economic interests. This was announced by Crown Prince Mohammed bin Salman during the Saudi-US Investment Forum, emphasizing a long-standing economic relationship that began 92 years ago, according to aa.

The centerpiece of these agreements includes a historic arms deal worth nearly $142 billion, described by the White House as the largest defense sales contract ever concluded. This deal underscores Saudi Arabia's commitment to enhance its military capabilities, while also paving the way for increased defense-related investments, according to indiatimes and lemonde.

In addition to defense, the Saudi government announced plans for significant investments in artificial intelligence technology, including a $20 billion investment from the company DataVolt for AI data centers in the US. This marked an essential step in Saudi Arabia's strategy to participate in the global tech landscape while diversifying its economy, as noted by indiatimes and lemonde.

During a ceremonial welcome for Trump, the Crown Prince expressed a desire to reach $600 billion in total partnerships between the countries, reflecting ongoing negotiations and shared interests. Trump's affirmations about the mutual benefits of these deals remained a focal point throughout the visit, as he praised the transformation under the Saudi leadership, according to aa and lemonde.

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