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Business Buzz in Saudi Arabia
Imagine being in Riyadh, Saudi Arabia, surrounded by a mix of power players. From the tech titan Elon Musk to finance gurus like Larry Fink and Steve Schwarzman, they all gathered for one reason: to discuss investments. Yes, we’re talking about President Trump’s visit to the Middle East.
Executives weren’t looking for just any ordinary gathering; they were after lucrative deals that could shape the future of their companies. For them, Trump’s focus on transactions was music to their ears, especially amid the uncertainties brought by his trade war.
The event wasn’t short of eye-catching announcements:
A Glimpse into the Deals
– **Defense Agreement:** A massive defense deal worth almost $142 billion involving various American companies covering sectors like air force capabilities and border security.
– **Tech Powerplay:** Nvidia landed a contract to supply 18,000 advanced chips to Humain, an AI startup in Saudi Arabia. On top of that, AMD sealed a deal worth around $10 billion with Humain for processors.
– **Tech Investments:** Companies such as Google, Oracle, and Uber pledged approximately $80 billion towards innovative technologies in both the US and Saudi Arabia.
– **Energy Ventures:** GE Vernova secured contracts totaling about $19 billion for gas turbines while Boeing inked agreements for plane exports.
– **AI Commitment:** DataVolt from Saudi Arabia vowed to inject $20 billion into AI data centers and energy infrastructure projects in America.
The Trump Effect
The lure of potential business opportunities drew some big names like Elon Musk and Jensen Huang from Nvidia together at an investment lunch hosted by U.S.-Saudi interests. Even though not everyone made it (looking at you Tim Cook), the presence of key players signaled a significant shift towards collaborative ventures.
Trump couldn’t contain his enthusiasm amidst all these deals. He proudly declared amidst grandeur-filled surroundings that included intricate décor aimed at sealing impactful business agreements with global leaders.
“We have the biggest business leaders in the world here,” he boasted confidently. “They’re going to walk away with a lot of checks.”
However, reality check – while White House announced securing investment commitments totaling $600 billion from Saudi Arabia, actual figures fell short at around $283 billion so far. With 145 deals signed amounting a bit over $300 billion – several already in motion before Trump’s second term – there’s still room for growth.
Even though Trump pushed for over $1 trillion investments alongside oil price reductions during discussions with Saudi officials exceeding even their sovereign wealth fund’s capacity – Public Investment Fund planning less foreign ventures focusing instead on domestic economy–the appetite remains strong for further economic collaboration between nations.
So amid handshakes and photo ops under golden chandeliers trumpeting prosperity “a la mode,” corporate titans departed Riyadh with hopes high and pockets potentially lined – turning visions spun through rhetoric into tangible business realities shaping tomorrow’s global economic landscape.
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