Saudi Crown Prince Mohammed Bin Salman says his country is willing to expand investments in the United States by $600 billion or more over the next four years.
If you thought the half-a-trillion-dollar AI announcement earlier this month was as big as it gets, think again. According to the Saudi state-run news agency SPA, the crown prince told President Trump about the monumental potential investment during a congratulatory phone call on January 22.
The news comes the same week as large tech companies, like Texas-based Oracle, agreed to collectively invest $500 billion to expand domestic AI research in the United States. Abilene, Texas, was selected as the project’s launch location.
The news of the latest Saudi investment follows another project unveiled by then-President-elect Donald Trump in early January to expand data center footprints throughout the United States. Emirati billionaire Hussain Sajwani is bankrolling that $20 billion project and will similarly include investments focused in part on Texas during its first phase.
Bin Salman told Trump during their phone call that he was motivated to secure partnership and investment opportunities produced under the new administration. The crown prince alluded to the “unprecedented economic prosperity” he anticipates will result from Trump’s economic reforms, according to Bloomberg.
Trump has previously told reporters he would happily visit Saudi Arabia again if the country were willing to buy upwards of $500 billion of U.S. goods. Given the $600 billion figure floated by the crown prince, it is entirely possible President Trump will make his way to Riyadh at some point during his presidency. The last time he visited the kingdom was in 2017, during his first overseas trip as President of the United States.