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). 

"We are not creating fake opportunities to please America or President Donald Trump. These are real opportunities that fit our needs in Saudi Arabia. For example, you ask about AI and chips. Saudi Arabia has huge demand and huge need for computing power," Crown Prince added.

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.

There are no limits for deals with the US in energy, AI, and supply chains. “We're going to spend, in the short term, around $50 billion on semiconductors," he added.