President Donald Trump announced a commitment of $600 billion from various companies aimed at enhancing the United States’ energy security, technology leadership and access to critical minerals. The deal was disclosed during the president’s visit to Saudi Arabia as part of his Middle East tour. Saudi Arabia is among the U.S.’s major trading partners in the region, with the kingdom funneling $9.5 billion worth of investments in 2023.
The businesses included in the announced deal are:
- Shamekh IV Solutions, which will invest $5.8 billion to build a high-capacity factory in Michigan to produce IV fluids,
- Hill International, Jacobs, Parsons and AECOM, which secured orders worth over $2 billion in U.S. services exports to support key infrastructure projects in Saudi Arabia, and
- AMD, DataVolt, Google, Oracle, Salesforce and Uber, which would allocate $80 billion to deploy cutting-edge technologies in the U.S. and Saudi Arabia.
Among the companies committing to supporting Trump’s America First trade and investment policy is DataVolt, whose $20 billion investment will build energy infrastructure and data centers that will support artificial intelligence applications.
The new round of commitments comes as Riyadh and Washington work to improve collaborations in a wide range of areas. In July 2024, the two countries signed a framework that will deepen their partnership in advancing space exploration and civil aeronautics, ensuring the transparent, safe and responsible exploration of the domain.