Donald Trump praised the relationship of the United States with Saudi Arabia on Tuesday, only a few hours after the White House presented what he said was $ 600 billion in defense, artificial intelligence and other agreements with the kingdom.
The president of the United States praised the kingdom and its de facto leader, the heir prince Mohammed Bin Salman, when the first stage of his treatment suit and three nations of the Gulf rich in oil began.
“He is an incredible man, I know him a lot of time. There is no one like him,” Trump told an auditorium full in Riyadh. Among the guests were Elon Musk, the richest man in the world, the Baron of private capital Stephen Schwarzman, the head of Nvidia Jensen Huang and Didens from other US executives.
The American-Saudi relationship had been a “base” of security and prosperity, Trump said. He added: “Today, we reaffirm the link and take the next steps to make our relationship closer, stronger, more powerful than ever … and it will continue to be so.”
In a press release before Trump’s speech, the White House had praised “the commitment of $ 600 billion of Saudi Arabia to invest in the United States” and “the economic ties that will last for the coming generations.”
Prince Mohammed said the two countries would work in the coming months to increase the total of $ 1TN.
“We are working at association opportunities with the US.
The agreements presented by the White House included a commitment of the new state -owned company of Saudita, Humain, to build AI infrastructure in the kingdom using several “hundreds of thousands” or the more than five years of Nvidia.
That would make it one of the largest chip orders of a state company, underlining the scale of the ambitions of Prince Mohammed to position Saudi Arabia as a global center of AI and boost Nvidia’s desire to build “sovereign” ai “infrastructure AI”.
The first phase of Humain’s investment would imply displaying 18,000 or the latest “Blackwell” servers of Nvidia, said the chips manufacturer. Based on the price of a single NVIDIA graphics processing unit, estimated at $ 30,000- $ 40,000, Saudi investment in multiple billions of dollars.
AMD, one of Nvidia’s main competitors in the AI chips market, is also coinciding up to $ 10 billion with Humain to deploy is an infrastructure in the country. Amazon made a similar commitment of $ 5 billion that covers the infrastructure of the data center.
Nvidia shares increased 5.6 percent on Tuesday, while AMD won 4 percent. Amazon was 1.3 percent higher.
Jimmy Goodrich, principal technology analysis advisor for the group of experts Rand Corporation, said the “mass scale” of the Middle East’s advertisements “would undoubtedly eat in the future growth of the United States data center.”
“Instead of sliding the future economic revolution in the Middle East, a better approach would be to channel the money of the Gulf State in American reindustrialization and energy domain,” said Goodrich.
The White House also quoted on Tuesday what it said it was an agreement of “almost $ 142 billion” to provide Riyadh “vanguard warnings and services of the defense companies of a box.”
He added that this would include the Air Force and spatial capacities, the defense of missiles, maritime and border security, the modernization of land forces and updates to communication systems.
The United States also referred to Datavolt’s plans in Saudi Arabia to invest $ 20 billion in AI and energy infrastructure data centers in the United States.
Trump is looking to ensure investment agreements and promises worth more than $ 1TN on his trip to the Gulf, which will also include stops in Qatar and the United Arab Emirates.
The traditional allies of the United States are among the largest American weapons buyers, have sovereign wealth funds that collectively handle more than $ 3TN and have all declared their ambitions to invest a lot in AI.
Many of the most powerful technological executives in the United States were also in Riyadh, including Musk, Huang and Sam Altman in OpenII, such as Saudi Arabia, organized a dazzling investment forum. The main financiers, including Schwarzman from Blackstone, Larry Fink of Blackrock and Jane Fraser de Citigroup.
American technology companies have been looking at the Gulf more and more, Thiches manages some of the largest and most active sovereign wealth funds in the world, to raise capital and attract investments.
The Trump administration eliminated a rule of the Biden era under what Saudi Arabia, along with dishes from other countries, including India and Singapore, would have faced limitations in their purchases of the chips designed by the most powerful United States.
Riad launched Humain, who will be chaired by Prince Mohammed and owned by the Public Investment Fund, the Sovereign Fund of $ 940 billion, to direct his strategy and investments in the sector on Monday, the day before Trump arrived.
A few days after the inauguration of Trump in January, Prince Mohammed committed Saudi Arabia to invest $ 600 billion in the United States in the next four years, the same amount that was announced on Tuesday.
The EAU continued with a similar gesture in March, committing to invest $ 1.4TN in the next 10 years. It is also found to settle as a center of the leader and has a strategic decision to invest in American technology.
Analysts question how the Gulf states can deploy a fixed capital scale in the announced deadlines, of participularly Saudi Arabia, since they deal with lower oil prices, a broad budget deficit and the scale of their own national projects.
Additional reports from Michael Acton in San Francisco
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