The US White House said America is working to approve the sale of advanced US AI chips to Saudi Arabia, signaling a major shift in export policy and deepening tech ties with the kingdom.
During his meeting with US President Donald Trump in Washington on Nov 18, Saudi Arabia's Crown Prince Mohammed bin Salman also pledged an investment of up to US$1tril from the kingdom in the United States.
00:00Ladies and gentlemen, the President of the United States.
00:30I want to thank you because you've agreed to invest $600 billion into the United States.
00:46And because he's my friend, he might make it a trillion, but I'm going to have to work on him.
00:51But it's 600.
00:53We can count on 600 billion, but that number could go up a little bit higher.
00:59Yes, sir.
00:59I don't know.
01:00We'll see.
01:01But we appreciate it very much.
01:03So Saudi is going to be investing at least $600 billion.
01:07And that means investments in plants, in companies, money on Wall Street.
01:13And what it really means for everybody that really counts as jobs, a lot of jobs.
01:19We have a lot of jobs.
01:20So I just want to thank you.
01:22We've been really good friends for a long period of time.
01:24We've always been on the same side of every issue.
01:26I'd like to say a few words, but thank you very much.
01:29Well, thank you, Mr. President.
01:30I believe, Mr. President, today and tomorrow we're going to announce that we are going to increase that $600 billion to almost $1 trillion of investment, real investment and real opportunity by details in many areas.
01:42And the agreement that we are signing today in many areas in technology, in AI, in air materials, magnets, et cetera, that will create a lot of investment opportunities.
01:54So you are doing that now?
01:55So you are saying to me now that the $600 billion will be $1 trillion?
02:00Definitely, because what we are signing, it will facilitate that.
02:03I like that very much.
02:07Got it.
02:08You work hard.
02:09No, that's great.
02:10I appreciate that.
02:11That's great.
02:12No, we're doing numbers that nobody's ever done.
02:14And in all fairness, if you didn't see potential in the U.S., you wouldn't be doing that.
02:18Definitely.
02:19You don't want to lose money.
02:20As you said, Mr. President, it's the most hottest country on the planet.
02:23I want to just tell you what an honor it is to be your friend.
02:27And I very much appreciate the investment of that $1 trillion, okay?
02:32So I'm glad you got that out.
02:33I didn't want to be the one to tell him, but that's great news.
02:36You keep increasing, Mr. President.
02:37Mr. President, have you approved the export licenses for advanced chips to Saudi Arabia, the export licenses?
02:46We are working on that.
02:47We're negotiating that right now.
02:48Certain levels of chips, yeah.
02:50We are not creating fake opportunities to, you know, please America or please Trump.
02:56It's real opportunities.
02:57For example, when you ask about the AI and the chips, Saudi Arabia has a huge demand, a huge need of computing power.
03:04And we're going to spend, in the short term, around $50 billion by consuming those semiconductors for our needs in Saudi Arabia.
03:13And with the agreement that we're going to have with the United States of America that will allow us to focus that consuming power in the short term by $50 million from the United States of America and long term with hundreds of billion dollars in the long term.
03:26So there's a lot of real opportunities that fit to our needs in Saudi Arabia and fit to our investment strategy.
03:32And the defense agreement, have you reached agreement on that?
03:35We pretty much have.
03:36We have reached agreement on that.
03:41Okay.
03:42You said you are planning to sell the F-35 jets to Saudi Arabia.
03:46Is it part of the security agreement and how you assess the defense partnership between Saudi Arabia and the United States?
03:54And the question was...
03:55Well, I just said it, though.
03:56I mean, I'm going to...
03:57We're going to sell them F-35s.
03:59That's the end of the question, I guess.
04:00Is it part of the security agreement or no?
04:02No, we're going to have...
04:03No, we're going to have a deal.
04:05They're going to purchase F-35s.
04:07They're buying them from Lockheed.
04:09And it's a great plane.
04:11We make, by the way, the best military equipment.
04:13And you saw that during the Iran little skirmish.
04:16We make the best planes, the best missiles.
04:19We make the best defensive missiles.
04:22We make the best military equipment in the world.
04:25Do you expect a formal civil nuclear deal to be reached soon?
04:29Can you talk to us about that aspect of today's...
04:32With Saudi Arabia?
04:32I can see that happening.
04:34Do you think that that will...
04:35An agreement will happen today?
04:36It's not urgent.
04:38It's always...
04:39When you have civil nuclear, but you have more oil than almost anybody else.
04:43We actually have more oil and gas than they do when I refuse to say that.
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