The News
US-Saudi business ties are in the spotlight with President Donald Trump addressing a summit of executives in Riyadh on the first day of his Gulf tour.
The kingdom has pledged $600 billion in investment and trade with the US over the course of Trump’s term, but the president wants that figure bumped up to $1 trillion: Semafor scooped an early success for Trump, with a new Saudi AI company backed by the kingdom’s sovereign wealth fund picking a California chipmaker to help power its work.
Trump has also pressed Saudi Arabia and other major oil producers to ramp up output in order to slash domestic US gas prices, demands that partly explain the OPEC+ grouping expanding production recently.
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