Trump and Top Tech CEOs Including Elon Musk and Jensen Huang Visit Saudi Arabia to Secure Major Investments
President Donald Trump’s recent trip to Saudi Arabia included a high-profile visit to Riyadh, where he was accompanied by numerous top Wall Street and Silicon Valley executives. This marked the first bilateral overseas trip of his second term, aimed at fostering economic ties and securing significant investments from the oil-rich Gulf nations. Upon arriving in Riyadh, Trump was welcomed with a lavish state ceremony. Saudi Crown Prince Mohammed bin Salman greeted him on a purple carpet at the airport, and a grand honor guard stood in attendance. The meeting took place at the Royal Court, where the atmosphere was steeped in tradition, with Saudi men holding gold swords waiting nearby. Trump was flanked by key US officials, including Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and Defense Secretary Pete Hegseth, as he engaged in discussions with the crown prince. These interactions included a coffee ceremony under a portrait of King Salman. During the US-Saudi Investment Forum, held at the ornate King Abdul Aziz International Conference Center, Trump addressed a large audience, including prominent figures from US businesses. The forum focused on potential investment opportunities and technological collaborations. One of the key announcements came from Nvidia CEO Jensen Huang, who pledged that his company would provide Saudi AI firm Humain with thousands of its most advanced chips to enhance the kingdom’s AI capabilities. This deal aligns with Saudi Arabia’s vision to become a global leader in artificial intelligence. Elon Musk, CEO of SpaceX and Tesla, also attended the forum. He met with the governor of Saudi Arabia's Public Investment Fund, Yasir bin Othman Al-Rumayyan, and announced that Starlink, SpaceX’s satellite internet service, will be available in Saudi Arabia. This move has significant implications for improving connectivity and technological infrastructure in the region. OpenAI CEO Sam Altman was present at the forum and a VIP luncheon but did not speak at the event. His presence, however, underscores the importance of AI and technology in the US-Saudi partnership. The Crown Prince provided Trump with a guided tour of Diriyah, a UNESCO World Heritage Site and the ancestral home of the al Salman royal family, before the evening’s state dinner. The visit extended to Qatar and the United Arab Emirates, with Trump aiming to secure major new deals. The White House announced that Saudi Arabia had committed to investing $600 billion in the US, a pledge initially made in January. This investment is crucial for boosting various sectors in the US economy, including technology, defense, and infrastructure. Industry insiders view the trip as a strategic move to strengthen economic ties and position the US as a key partner in Saudi Arabia’s ambitious Vision 2030 plan. The involvement of leading tech CEOs like Musk and Huang signals a shift towards more technologically driven collaborations between the two nations. Companies like Nvidia and SpaceX are poised to benefit from the investments and partnerships formed during this visit. The significance of these announcements lies in their potential to drive innovation and economic growth. Saudi Arabia’s focus on AI and digital transformation, coupled with the US’s technological leadership, could lead to groundbreaking advancements and new market opportunities. However, critics have raised concerns about the ethical implications of such deep technological collaborations with a country known for its human rights issues. In summary, Trump’s visit to Saudi Arabia has set the stage for substantial economic and technological cooperation between the two nations, with notable commitments from leading US companies. The event highlights the growing importance of international tech partnerships in shaping the future of global industries and economies.