Saudi Arabia to raise investments in US to $1T

Crown Prince Mohammed bin Salman with US President Donald Trump

Crown Prince Mohammed bin Salman, Prime Minister, said Saudi Arabia would raise its investments in the United States to $1 trillion (SAR 3.75 trillion). He added that that the Kingdom did not invest in illusory opportunities to satisfy the US, but in real opportunities across several sectors, such as semiconductors and artificial intelligence.

During a press conference with US President Donald Trump at the White House, the Crown Prince added that today was a historic moment to work toward the future, and that the Kingdom looked at opportunities in the US market, which is one of the most dynamic markets globally.

The US is an important country with a strong economy, and it is important for the Kingdom to invest with it across different sectors.

The Crown Prince noted that the relationship with the US could not be replaced, and that with President Trump it entered a new chapter of strong cooperation.

The Kingdom needed to use massive computing capacity over the long term, and it would assign this task to the US private sector, he said.

He added that there were no limits to cooperation with the US in energy, artificial intelligence, and supply chains, and that the Kingdom would inject $50 billion in the near term for semiconductor consumption in Saudi Arabia.

On semiconductors, Trump said talks were underway regarding exporting advanced chips to Saudi Arabia. The President further noted that he saw the possibility of reaching a civil nuclear agreement with Saudi Arabia.