Saudi and US officials touted billions of dollars in new investments and growing financial ties between the two countries on Wednesday, coinciding with Saudi Arabian Crown Prince Mohammed bin Salman’s visit to Washington.
The CEOs from Chevron, Qualcomm, Cisco, General Dynamics and Pfizer are attending the US-Saudi Investment Forum at the Kennedy Centre in Washington, according to the event’s programme, as well as senior executives from IBM, Alphabet’s Google, Salesforce, Andreessen Horowitz, Boeing, Halliburton, Adobe, Aramco, State Street and Parsons Corp.
Trump said $270 billion in agreements and sales are being signed between dozens of companies on Wednesday. Bin Salman also touted the investment agreements that both were signing.
“The agreements finalised yesterday open the door for US companies to lead globally (in) innovation, in safety and in deployment,” Commerce Secretary Howard Lutnick said.
Sitting next to Trump in the White House, bin Salman on Tuesday promised to increase his country’s US investment to $1 trillion from a $600 billion pledge he made when Trump visited Saudi Arabia in May.
But he offered no details or timetable.
Trump said he pushed him to go higher. “Could you make it $1.5 trillion?” he asked.
Bin Salman rubbed shoulders with many of Corporate America’s most powerful executives at the event on Wednesday, a day after President Donald Trump reintroduced him to official Washington with a glowing endorsement from the White House.
Tesla CEO Elon Musk and Nvidia CEO Jensen Huang talked about the future of AI. Musk predicted work would be optional in 10 or 20 years, while Huang said he thought AI would change the future of employment.