Trump intends to accumulate more than $1 trillion during his visit to Saudi Arabia.
Trump's big announcement at the Saudi Arabian business event promised a whopping $1 trillion in investments to the good ol' USA, right? Well, hold your horses there, cowboy! That's not exactly the whole story.
Trump says this trip will bring an additional $1 trillion in investments and purchases to the U.S., according to Reuters. But let's dig a littler deeper. The real deal? The total announced deals at the conference don't even close to that number, folks. Bloomberg reports that the total announced deals doesn't even pass $300 billion. The White House also claimed Saudi Arabia's intention to invest $600 billion, but that still ain't a trillion.
Now, you might be wondering what Trump got from this "historic" return to the Middle East. The White House has made it clear that these deals are going to boost our energy security, defense industry, technological leadership, and access to global infrastructure and vital resources. According to rbc.group, the statement mentions plans by Saudi DataVolt to invest $20 billion in American data centers for AI and energy infrastructure. There are also commitments by Google, DataVolt, Oracle, Salesforce, AMD, and Uber to invest $80 billion in advanced transformational technologies in both countries.
Bloomberg reports that the deals also involve the expansion of Boeing Co passenger aircraft purchases and Saudi Arabia's promise to allow the use of Elon Musk's Starlink service in aviation and maritime transport. American tech giants such as Nvidia, AMD, Global AI, and Amazon also plan to collaborate with Saudi Humain, established to develop AI infrastructure in the kingdom, reports Bloomberg.
Here's the kicker, though. The Trump administration is said to be considering a deal that would allow Saudi Arabia to import more than a million Nvidia AI chips annually, exceeding export limits set by the previous administration. Talks are ongoing, with the deal involving the import of 500,000 chips annually until 2027, according to sources.
So, there you have it. While Trump might have exaggerated a tad bit, it seems like there's still plenty to gain from this trip, people. The future's looking brighter, ain't it?
Trump's claims of a $1 trillion increase in investments and purchases for the U.S. from the Saudi Arabian business event might have been an overestimation, as the total announced deals at the conference are currently less than $1 trillion. However, there are significant deals in the pipeline, such as Saudi DataVolt's planned investment of $20 billion in American data centers for AI and energy infrastructure, and commitments by American tech giants like Google, Oracle, Salesforce, AMD, Uber, Nvidia, and Amazon to invest $80 billion in advanced transformational technologies in both countries. Additionally, discussions are underway regarding a potential deal that would allow Saudi Arabia to import more than a million Nvidia AI chips annually, surpassing the export limits set by the previous administration.
