Meanwhile, President Trump has been active since taking office, signing executive orders and announcing significant investments, including a new joint venture called Stargate between OpenAI, Oracle, and SoftBank, which plans to invest up to $500 billion in AI infrastructure in the US. Trump has claimed to have secured nearly $3 trillion in new investments for the US, with potential for more by the end of the week. Additionally, Trump has made overtures to Russian President Vladimir Putin regarding the Ukraine conflict, suggesting potential economic consequences if a resolution is not reached.
Key takeaways:
- Saudi Arabia plans to invest at least $600 billion in the US over the next four years, as discussed between Crown Prince Mohammed bin Salman and President Donald Trump.
- President Trump has been actively signing executive orders and announcing investments, including a potential $500 billion investment in AI infrastructure through a joint venture called Stargate.
- Trump has made a proposal to Russian President Vladimir Putin to end the Ukraine conflict, threatening high taxes, tariffs, and sanctions if a deal is not reached.
- Saudi Arabia's Public Investment Fund is shifting focus towards domestic investments, reducing the proportion of foreign investments from 30% to between 18% and 20%.