Saudi Arabia to invest $600bn in the US as countries sign 'largest defence deal in history'

Agreements in energy, technology and health care signed during Donald Trump's visit to the kingdom

US President Donald Trump shakes hands with Saudi Crown Prince Mohammed bin Salman in Riyadh on Tuesday. AFP

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Saudi Arabia has committed to investing $600 billion in the US through a series of deals in energy, defence, technology, infrastructure and critical minerals, the White House said.

The deals were signed on Tuesday during US President Donald Trump's visit to the kingdom.

"We will work in the next phase to complete additional agreements, reaching $1 trillion," Saudi Crown Prince Mohammed bin Salman told the US-Saudi Investment Forum in Riyadh.

"US companies represent nearly a quarter of foreign investment in the kingdom. More than 1,300 American companies operate and invest in the kingdom," he added.

The deals include "the largest defence sales agreement in history" worth nearly $142 billion, providing Saudi Arabia with defence equipment and services from more than a dozen US firms, the White House said.

The defence deals covered air force advancement and space capabilities; air and missile defence; maritime and coastal security; border security and land forces modernisation; and information and communication systems upgrades.

The package also includes "extensive training and support to build the capacity of the Saudi armed forces, including enhancement of Saudi service academies and military medical services".

"Saudi Arabia remains our largest foreign military sales partner, with active cases valued at more than $129 billion," the statement said.

Tech and business leaders join US President Donald Trump on Riyadh visit

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Other key deals include a $20 billion investment by Saudi Arabian company DataVolt in AI data centres and energy infrastructure in the US.

Google, DataVolt, Oracle, Salesforce, AMD and Uber will also invest $80 billion in technology in both countries, the White House said.

Meanwhile, GE Vernova will supply gas turbines and energy solutions totalling $14.2 billion, while Boeing has signed a $4.8 billion deal with Saudi Arabia's AviLease for 30 737-8 passenger aircraft.

The deal marks the first direct order from an original equipment manufacturer by AviLease, the aircraft lessor owned by the Public Investment Fund, a separate statement from the company said. Deliveries are scheduled through 2032.

The investment "will enable AviLease to provide its global customer base with new technology, fuel-efficient fleet solutions", the company said.

"This strategic order reflects AviLease’s long-term ambition of becoming a top 10 global leader in aircraft leasing, while strengthening AviLease’s position as a national champion," said Fahad AlSaif, AviLease chairman.

The PIF-backed AviLease was founded in 2022 and has a portfolio of 200 owned and managed aircraft on lease to 48 airlines globally.

The Boeing deal marks Avilease's first direct order from an original equipment manufacturer. Photo: AviLease

Other deals

In the healthcare sector, Shamekh IV Solutions will be investing $5.8 billion in the US, including a plant in Michigan to launch a high-capacity IV fluid facility.

Investment partnerships include several sector-specific funds such as the $5 billion Energy Investment Fund, the $5 billion New Era Aerospace and Defence Technology Fund and the $4 billion Enfield Sports Global Sports Fund.

"The United States and Saudi Arabia celebrate these and many other deals today as a result of the growing momentum of the last four months," the statement on Tuesday said.

"The total package has quickly built to more than $600 billion – the largest set of commercial agreements on record between the two countries."

The countries also said they will collaborate in critical sectors such as health, energy and science. The US Department of Energy and Saudi Arabia's Ministry of Energy concluded an agreement for co-operation in the energy field. It will focus on collaboration across the development, financing and deployment of energy infrastructure.

Meanwhile, Saudi Arabia's Ministry of Industry and Mineral Resources and the US Department of Energy have signed an agreement to collaborate on mining and mineral resources. "The agreement contributes to economic development and the diversification and resilience of critical mineral supply chains", the statement said.

Nasa and the Saudi Space Agency also signed an agreement for a CubeSat to fly on Nasa’s Artemis II test flight. Saudi Arabia’s CubeSat will measure aspects of space weather at a range of distances from Earth.

The countries also recently agreed to modernise the air transport agreement to allow US airlines to carry cargo between Saudi Arabia and third countries without needing to stop in the US, "an important right for cargo hub operations", the White House said. Saudi carriers will have the same rights to serve the US.

The US and Saudi Arabia will also boost cultural, educational and scientific partnerships through the signing of agreements between the Royal Commission for AlUla and Smithsonian Institution’s National Museum of Asian Art and the Smithsonian’s National Zoo.

Saudi Arabia is one of the US’s largest trading partners in the Middle East. Bilateral goods trade reached $25.9 billion last year.

Mr Trump’s arrival in Saudi Arabia marked his first official state visit since he returned to the White House in January for a second, non-consecutive term. He will also visit Qatar and the UAE this week.