Donald Trump engaged in a high-profile lunch with over 30 business leaders representing some of America’s most influential companies in Saudi Arabia. The proceedings were held under the auspices of the Saudi royal court in Riyadh and hosted by Crown Prince Mohammed bin Salman. This meeting served as a powerful reminder of the dynamic relationship between U.S. companies and the Kingdom. It took on even more importance after Trump’s big announcement last week of investments from Saudi Arabia.
Among the attendees was Alcoa’s Chief Financial Officer, William Oplinger, alongside other top executives including Boeing’s David L. Calhoun, BlackRock’s Larry Fink, Coca-Cola’s James Quincey, and IBM’s Arvind Krishna. The persistence of such leaders was a vivid reminder of the deep connections between most American corporations and the Saudi market.
At lunch Trump again congratulated the Kingdom on winning $600 billion in investments. He described this step as win-win for both countries. In announcing this expansion, Jensen Huang, CEO of Nvidia shared an astonishing outlook. He wants Saudi Arabia to develop your country’s AI ecosystem so you can help join and help lead the global race to harness this transformative technology. His statements reiterated the close partnership opportunities that exist between American tech companies and the Kingdom of Saudi Arabia.
The event was a valuable opportunity for many of the bright, spunky, clean transportation companies present to have their story told and prove their worth. Such is the excitement by IBM’s Krishna over the company’s commitment of $150 billion in investments in the U.S. over the next five years. This announcement is a timely reversal matching today’s trends toward more corporate investment in the face of changing global markets.
Perhaps what made the biggest splash was Boeing scoring its largest aircraft deal ever on this visit with Qatar Airways. The historic agreement gives Boeing a greater foothold in the area. Ortberg, who was on hand for that lunch, shortly thereafter joined the signing ceremony with Qatar’s Emir, showing the close, ever-growing ties forged between these countries.
Coca-Cola’s Quincey represents one of the most consumer-facing companies in the context of Trump’s tariff wars, illustrating how corporate interests intersect with international trade policies. So too did Uber’s blockbuster first quarter earnings beat Wall Street expectations, signaling a company and industry bouncing back and growing amid economic starts and stops.
Most of the firms sat at the lunch had donated to Trump’s inauguration fund, which had the largest inauguration fund ever, raising $239 million. Notably, Karp contributed $1 million to support Trump’s inauguration efforts, reflecting a strong connection between political engagement and corporate interests.
From the start, the investments forum crackled with anticipation as it heralded significant announcements. One of them was Elon Musk’s announcement that Saudi Arabia has cleared Starlink satellites for aircraft and ships. This innovation is said to change the connectivity landscape in different sectors within the Kingdom.
In addition to these corporate commitments, Sam Altman, CEO of OpenAI, stated, “watching @potus more carefully recently has really changed my perspective on him.” This comment represents a broader trend driving increased interest from tech leaders in understanding how government policies—often with unintended consequences—will affect their industries.
This summit of American business leaders with Donald Trump in Saudi Arabia represents a critical turning point in U.S.-Saudi relations. It represents a deep commitment to investment and innovation. This method builds relationships that will very much influence the future economic fortunes of either country.
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