WORLD
Saudi, US talk billion-dollar deals amid Prince Salman’s American visit
- IBJ Bureau
- Nov 20, 2025
Saudi Arabia and the US have touted billions of dollars in new investments and growing financial ties between the two countries, coinciding with Saudi Arabian Crown Prince Mohammed bin Salman’s first visit to Washington since 2018.
Sitting next to Mr Trump in the White House, Mr Salman has promised to increase his country’s US investment to $1 trillion from a $600 billion pledge he had made when Mr Trump had visited Saudi Arabia in May. But he offered no details or timetable.
Mr Trump and Mr Salman have applauded $270 billion in agreements and sales signed between dozens of companies at the Kennedy Center conference, including planned purchases of 600,000 Nvidia AI chips by HUMAIN, a government-backed Saudi AI firm.
HUMAIN and Elon Musk’s xAI will also jointly develop data centres in Saudi Arabia, including a 500-mw facility.
Separately, MP Materials has said that it will build a rare earths refinery in Saudi Arabia with the US Department of Defense and Saudi Arabian State-owned mining company Maaden to expand Middle Eastern processing of the critical minerals.
Oil giant Saudi Aramco has said that it has signed 17 MoUs and agreements with major US companies, carrying a potential value of more than $30 billion.
Mr Salman has rubbed shoulders with many of Corporate America’s most powerful executives at the event, a day after Mr Trump reintroduced him to official Washington with a glowing endorsement.
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