Saudi Arabia has pledged $600 billion in US investment, including approximately $142 billion in arms deals.
Riyadh, Saudi Arabia – When President Donald Trump arrived in the Saudi Arabian capital on May 13, one of his first actions was to deal with the Gulf business elite and promote the United States as a major destination for investment in a new era shaped by his “America First” agenda.
Trump has revealed that a three-day tour of the Middle East, which is parked in Saudi Arabia, Qatar and the United Arab Emirates, is to make a deal.
At the Saudi US Investment Forum at the King Abdulaziz International Conference Centre, Trump praised the kingdom’s transformation since his last visit eight years ago.
He began his speech. “I’m going to talk about this afternoon about the bright future of the Middle East, but let’s start by sharing a wealth of good news from a place called America.”
He spoke about inheriting the border crisis, defeating illegal intersections in historic lows within weeks, reducing inflation and creating nearly half a million new jobs since he took office. He praised the UK-China trade contract as a major victory, adding that investment in the US increased 22% in the first quarter, highlighting his message that Congress is nearing the biggest tax and regulatory cuts in US history, and that this is the right moment to invest in the US.
Before the prepared speech, Trump took the stage in a way reminiscent of the 2024 election campaign, with “God Bless the Usa” being performed. He then gave a speech for over an hour before closing off with the “YMCA,” which he frequently used to close campaign meetings.
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“We’re shaking,” Trump told the forum, connecting us with Saudi executives.
“The United States is the hottest country except for yours. I have to say,” he joked.
Like his first term, Trump chose Saudi Arabia for his first visit to the state, demonstrating the strategic importance of relations with oil-rich countries.
With the aim of drawing billions of dollars into the US, Trump looks to the Gulf countries, based in some of the world’s largest sovereign wealth funds, as an ideal partner to advance his economic agenda.
During the meeting in Riyadh, the Kingdom pledged $600 billion in investments in a variety of US sectors, including AI data centers, aerospace, energy infrastructure, defense and healthcare.
“We launched a golden age,” Trump said.
“It’s a golden age. We see it, and we see it with all that money — we pour trillions of dollars, trillions of dollars.
“We’ll be together. We’ll succeed together.”
On May 13, 2025, Prince Donald J. Trump (L) and Crown Prince Mohammed bin Salman, Crown Prince Mohammed bin Salman, were signed at the Royal Court of Saudi Arabia in Riyadh, Saudi Arabia. Get McNamee/Getty Images
Investment and Arms Contracts
Before his remarks at the Investment Forum, Trump and the Crown Prince signed a Strategic Economic Partnership Agreement. This includes several memorandums of understanding on energy, mineral resources, defense, justice, space and cooperation on infectious diseases.
As part of the agreement, Riyadh authorities plan to allocate capital to specialties, including a $5 billion energy investment fund and a $5 billion new ERA Aerospace and Defense Technology Fund.
Additionally, the US exports billions of dollars worth of gas turbines, energy solutions and services. Saudi Arabia will also purchase approximately $142 billion in advanced combat equipment and services from more than 12 US defense companies. The White House described the deal as “the largest defence sales agreement in history.”
After taking office, Trump made it clear that his overseas visit would prioritize countries that promise substantial investment in the United States.
The United Arab Emirates has previously committed to a US $1.4 trillion investment framework over the next decade, targeting the AI and semiconductor infrastructure, energy sector and manufacturing. The United Arab Emirates will be Trump’s third stop during his Middle East tour.
Trump landed in Saudi Arabia with a strong delegation. The president was accompanied by the president and advisors, including Secretary of State Marco Rubio, Secretary of Defense Pete Hegses, Secretary of Treasury Scott Bescent, Secretary of Commerce Howard Latnik, Secretary of Energy Chris Wright and senior aides Susie Wills and Stephen Miller.
Crown Prince Mohammed Bin Salman greeted Trump as he arrived at the airport with a ceremonial welcome reminiscent of the warm reception he received in his first term.
At a bilateral meeting with the Saudi Crown Prince in Riyadh, Trump joked that his commitment to a $600 billion investment could be $1 trillion.
“I really believe we love each other very much,” Trump said.
In Riyadh, lavender carpets were deployed for cards at every stop. The colour chosen by Saudi Arabia as a national symbol is inspired by the lavender flowers that cover the desert every spring.
After he arrived, Trump attended a high-level lunch at the Saudi royal court with Bin Salman. Dozens of US executives also attended the luncheon, highlighting the economic focus of the visit and the potential business transactions being negotiated.
Notable guests include Elon Musk, CEO of Tesla and SpaceX, Stephen Schwarzman, CEO of Blackstone, Larry Fink, CEO of BlackRock, Kelly Ortberg, Boeing President and CEO of Boeing, and Sam Altman, CEO of Openai.
The company also announced the deal during the investment forum. Nvidia has announced that more than 18,000 of its latest AI chips will be sold to Saudi Arabian high-tech company Humain. Saudi Aramco has announced a $3.4 billion investment plan to upgrade Texas’ Motiva refinery. Meanwhile, Musk announced that Saudi Arabia has approved the use of Starlink in its marine and aviation sector.
Local security
In his speech to the Forum, Trump praised Riyadh’s transformation under the leadership of King Salman and the Crown Prince, calling it “really extraordinary.”
Saudi Arabia and other Gulf countries have moved from oil-dependent economies to a diverse range of industries, including high-tech, Trump said.
The president said the transition would lead to a future in which the region is “defined by commerce, not chaos,” and “by export technology, not terrorism.”
“After decades of conflict, reaching a future where generations before us can dream is within our grasp. There is a land of peace, security, harmony, opportunity, innovation and achievements here in the Middle East,” he said.
He took a shot at “Western Interventionists” who gave Arab countries “lectures on ways of life and governance.”
“Ryadh and Abu Dhabi were not created by so-called state builders, neoconservatives or liberal nonprofits, like those who spent trillions of dollars in failing to develop Kabul, Baghdad and many other cities,” Trump said.
Trump promoted the Abraham agreement signed during his first administration and expressed his hope that Saudi Arabia would soon join the agreement.
“It is my passionate hope, wish, and even my dream that Saudi Arabia will soon join Abraham’s agreement,” Trump said. “But you will do it in your own time.”
The Abraham Agreement was a variety of agreements signed in 2020 to improve relations between Israel and several Arab countries, including Israel, Morocco and the United Arab Emirates.
However, he acknowledged that Saudi Arabia is not ready to strengthen relations with Israel amid the ongoing conflict in Gaza.
Trump pivoted to Iran and spoke in a harsh but sincere tone.
He described Iran as the “largest and most destructive” force in the region, causing “unthinkable suffering in Syria, Lebanon, Gaza, Iraq, Yemen and others.” But when Washington joined the talks with Iran, Trump said he would provide the Islamic regime with “a better path to a new path and a much better hopeful future.”
“It’s time for them to make a choice,” the president said. “Things are happening at a very fast pace, so they have to make their moves right now.”
In a move that earned persistent applause, Trump confirmed he would order sanctions against Syria. He will greet Syrian President Ahmed Al-Sharah, who led the expulsion of former leader Bashar al-Assad in December on May 13th.
The US imposed restrictions on Syria in the wake of the Civil War that began in 2011. Past presidents have sought to stop violence against citizens and pressure the government to defend political reform.
Ahmed Alshara, a new Syrian leader with past links to terrorist organizations, vows to be a moderate leader and pursues diplomatic relations with Western countries. Since gaining power, Al-Sharaa has adopted several reforms that promote freedom of speech, freedom of the press, and the political and economic rights of women.
He recently met with French President Emmanuel Macron on the rewinding of sanctions against Damascus.
