Trump speaks after $600 billion Saudi-U.S. investment announced
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President Donald Trump is currently delivering a speech following the announcement by the White House regarding Saudi Arabia’s commitment to invest $600 billion in various deals with the United States.
Trump’s attendance at a U.S.-Saudi investment forum in Riyadh comes after meeting with Saudi Crown Prince Mohammed bin Salman.
One of the key agreements made is a defense sales deal worth close to $142 billion, which will provide the kingdom with advanced military equipment and services from multiple U.S. defense companies, as stated by the White House.
This commitment is almost double the defense budget of Saudi Arabia for 2025, which stood at $78 billion. The specifics of when the defense deal will be finalized were not mentioned in the White House’s announcement.
Bin Salman, who spoke prior to Trump at the investment conference, expressed the goal of elevating the U.S.-Saudi partnership to $1 trillion across various sectors including military, security, economic, and technological.
Experts highlight that fulfilling this investment promise will be a significant challenge for the kingdom, given the high costs associated with its Vision 2030 investment goals. Riyadh is facing widening budget deficits due to lower global oil prices and major public spending projects.
In addition to the defense deal, the White House revealed commitments from Saudi digital infrastructure company DataVolt to pursue a $20 billion investment in AI data centers in the U.S.
The total investment amount also includes a combined $80 billion commitment from DataVolt, Google, Oracle, Salesforce, AMD, and Uber to invest in both the U.S. and Saudi Arabia, as per the White House’s statement.
