U.S President Donald Trump, speaking in Riyadh at the U.S.-Saudi Investment Forum on Tuesday, unveiled what the White House described as a historic $600 billion package of agreements between the United States and Saudi Arabia.
Described as a cornerstone of economic and defense cooperation, the announcement was touted as a signature achievement of Trump’s second term diplomacy. Yet, a closer examination reveals that the actual value of the detailed deals appears to fall significantly short of the headline figure.
While Trump proclaimed the forum as the start of a “new golden era” in U.S.-Saudi relations, many of the investments cited by the administration had been previously announced or were lacking in substantive detail. The White House’s own figures listed investments totaling around $283 billion—less than half the stated $600 billion—and included projects like Jacobs’ work on King Salman International Airport and AECOM’s design support for Qiddiya City, both of which had been initiated prior to Trump’s latest term.
At the forum, Trump boasted of his administration’s appeal to global investors: “We have the biggest business leaders in the world here. They’re going to walk away with a lot of checks.” “The United States is the hottest country, with the exception of your country,” he added, praising Saudi Arabia’s development under Crown Prince Mohammed bin Salman.
Pushing for a $1 trillion target
Despite skepticism around the current figures, both Trump and Crown Prince Mohammed bin Salman framed the $600 billion announcement as only the beginning. Prince Mohammed, addressing the forum, said the Kingdom aimed to raise the U.S.-Saudi partnership to $1 trillion. “The U.S. is a major destination for the Public Investment Fund, accounting for approximately 40 percent of the fund’s global investments,” he said. “Joint investments are one of the most important pillars of the economic relationship between the two countries.”
However, economists have questioned the feasibility of reaching a $1 trillion threshold. Riyadh’s ambitious Vision 2030 reform program has already stretched national resources, and lower oil prices have squeezed the Kingdom’s fiscal flexibility. “The Kingdom does not have those kinds of liquid resources available,” one former IMF official noted.
Key Highlights $600 billion investment commitment
The White House released a detailed fact sheet describing the package as “historic and transformative,” stressing its implications for U.S. jobs, national security, and global leadership in advanced technologies. “The deals celebrated today represent a new golden era of partnership between the United States and Saudi Arabia,” the statement reads.
Among the most notable features:
- $80 billion in Tech Commitments: Tech giants including Google, DataVolt, Oracle, Salesforce, AMD, and Uber have committed to a combined $80 billion in joint U.S.-Saudi technology ventures.
- $20 billion AI Investment: Saudi data firm DataVolt plans to invest $20 billion in U.S.-based artificial intelligence (AI) data centers and energy infrastructure.
- $14.2 billion in Energy Exports: General Electric Vernova will supply gas turbines and energy solutions valued at $14.2 billion.
- $5.8 billion in Healthcare: Shamekh IV Solutions will invest in U.S.-based manufacturing, including a new IV fluid facility in Michigan.
- national security first.”
- $4.8 billion: Boeing will deliver $4.8 billion worth of 737-8 passenger aircraft to AviLease.
- $2 billion: U.S. firms such as Hill International, Jacobs, Parsons, and AECOM are contributing $2 billion in services to key Saudi infrastructure projects including King Salman International Airport and Qiddiya City.
- Sector-specific Investment Funds: The agreement includes three new funds totaling $14 billion for energy, aerospace, and sports investments, aimed at high-growth sectors in the U.S.
- Cultural and Scientific Cooperation: Smithsonian partnerships and NASA collaboration with the Saudi Space Agency were also highlighted.
Which tech leaders joined Trump in Saudi Arabia?
Trump spoke to those gathered at the U.S.-Saudi Investment Forum, which served as a meeting place for the world’s rich and powerful. Among those joining Trump were Tesla and SpaceX CEO Elon Musk, OpenAI CEO Sam Altman, BlackRock CEO Larry Fink, Trump’s newly appointed Treasury Secretary, hedge fund manager Scott Bessent, and Trump’s AI and crypto adviser David O. Sacks.
- Elon Musk – Tesla, SpaceX CEO
- Sam Altman – OpenAI CEO
- Jensen Huang – Nvidia CEO
- Lisa Su – AMD CEO
- Alex Karp – Palantir CEO
- Andy Jassy – Amazon CEO
- Ruth Porat – President and Chief Investment Officer of Google/Alphabet
- Ben Horowitz – General Partner of Andreessen Horowitz
- Tim Sweeney – CEO of Epic Games
- Dara Khosrowshahi – Uber CEO
- Travis Kalanick – Uber Co-Founder
Defense cooperation: US, Saudi Arabia conclude ‘largest arms sale in history’
The centerpiece of the economic partnership is a $142 billion arms deal—described by the White House as “the largest defense sales agreement in history.” The package will see over a dozen American defense firms provide Saudi Arabia with cutting-edge warfighting capabilities across five domains:
- Air force advancement and space capabilities.
- Integrated air and missile defense systems.
- Modernizing coastal and naval systems.
- Upgrades to armored vehicles, land forces modernization and border security.
- Enhancements in command, control, communications, computers, intelligence, surveillance, and reconnaissance.
The deal also includes extensive training, sustainment partnerships, and medical support for the Saudi military. “This agreement represents a significant investment in Saudi Arabia’s defense and regional security, built on American systems and training,” the White House emphasized.
U.S. President Donald Trump has embarked on the first major overseas trip of his second term, beginning a high-profile four-day tour through Saudi Arabia, Qatar, and the United Arab Emirates (UAE). The visit is expected to yield over $2 trillion in investment commitments from the three Gulf nations over the next decade. These pledges are focused on strategic sectors including AI infrastructure, semiconductors, defense modernization, and large-scale energy projects, signaling deepening economic and technological cooperation between the United States and its Gulf partners.