UAE welcomes Trump amid anticipation of AI chip deals with U.S.

In the final leg of his tour through the Gulf’s royal palaces, U.S. President Donald Trump landed in Abu Dhabi on Thursday as G42 and other UAE tech firms awaited a green light for billions of dollars in advanced chip deals.

UAE President Sheikh Mohamed bin Zayed greeted the U.S. leader at Abu Dhabi’s exclusive Presidential Terminal after a brief flight on Air Force One from neighboring Qatar. Also on hand to welcome Trump were the President’s brothers, Vice President and National Security Adviser Sheikh Tahnoon bin Zayed, who is Chairman of G42, and Foreign Minister Abdullah bin Zayed.

Earlier in the day, Qatar hosted a business conference with Trump in the capital city of Doha and the president talked talked to U.S. soldiers at the Al Udeid U.S. Air Base, which has been an anchor for America’s security alliance in the Gulf.

The U.S. leader woke up in Doha after Emir Sheikh Tamim hosted a lavish state dinner at Lusail Palace on Wednesday night. On Trump’s arrival in Qatar, his motorcade passed sword dancers, parading camels and a royal honor guard mounted on Arabian stallions.

Today’s visit to the UAE is the last stop in his regional tour, which started on Tuesday when he landed in Riyadh and wraps up with Friday’s return to Washington.

Trump and close adviser Elon Musk spent two days in Saudi Arabia, hosted by Crown Prince Mohammed bin Salman and holding chats with corporate leaders from such powerhouses as Aramco, the Public Investment Fund, Nvidia, OpenAI, BlackRock and Citigroup.

In Abu Dhabi, where main roads are decked out with neon signs welcoming Trump, the president was expected to announce a preliminary agreement to let the UAE import 500,000 of Nvidia’s most advanced AI chips per year, starting in 2025, boosting the Emirates’ construction of data centers required for the highest level of AI development, Reuters reports.

Twenty percent of the chips will be allocated to UAE tech firm G42, and the remainder will be allocated to U.S. companies like Microsoft and Oracle that are building data centers in the UAE. The deal could potentially extend through 2027 or even 2030, according to the news agency.

The White House said Trump secured deals totaling more than $243 billion with Qatar after leaders from the Gulf peninsula state pledged some $1.2 trillion in American investment. The UAE has committed to investing $1.4 trillion in the U.S. over the next 10 years, while Saudi Arabia said it hopes to reach $1 trillion during Trump’s four-year term.

Among the largest deals was Qatar’s $96 billion plan to acquire as many as 210 Boeing 787 Dreamliner and 777X aircraft. The U.S. and Qatari governments also signed off on a $1 billion agreement for Raytheon to provide counter-drone capabilities to Qatar. General Atomics also secured a nearly $2 billion agreement for Qatar to acquire MQ-9B drones.

Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman, meanwhile, defended his country’s offer to Trump of a luxury jet to replace the 40-year-old Air Force One, telling CNN it was not an influence-buying effort.

“It is government to government. The transaction has nothing to do with personnel, whether it’s on the U.S. side or on the Qatari side,” he said, adding that Qatar is ready to withdraw the plan if it’s found to be illegal.

Musk’s Neuralink to conduct trials at UAE’s Cleveland Clinic

Elon Musk’s Neuralink will team up with the Cleveland Clinic Abu Dhabi to conduct the first clinical trials of its brain-chip technology outside America.

Neuralink’s futuristic chip is a brain-computer interface technology which is designed to improve the lives of paralysed patients by helping them control a computer by thought.

So far, it has only been tested on three people in the U.S. The trial program, to be called UAE-PRIME, was announced by the Department of Health Abu Dhabi on Wednesday, ahead of the arrival in the UAE of U.S. President Donald Trump and his billionaire-heavy delegation, which includes Musk.

Health Department chairman Mansoor Ibrahim Al Mansoori said the trial marked a significant step in developing life sciences in the region.

“In collaboration with Cleveland Clinic Abu Dhabi, we are proud to enable the safe and responsible advancement of brain-computer interface technology, offering renewed hope to individuals living with severe neurological conditions,” Al Mansoori said.

Abu Dhabi is actively positioning itself as a launchpad for global health innovation and has been seeking further U.S. support for its newly announced $25.6 billion health cluster. 

Trump moves on to Qatar after bounty of deals in Saudi Arabia

U.S. President Donald Trump took his Middle East dealmaking tour to Qatar today after a summit meeting in Riyadh with leaders of the six Gulf states that focused in part on promoting more investment in American military hardware and artificial intelligence.

The visit to Qatar’s capital of Doha continued to generate criticism from Democrats in Congress over Trump’s intention to accept a gift from the Qatari government of a refurbished $400 million plane that would temporarily replace Air Force One.

Arriving in the early afternoon after a short flight from Saudi Arabia, Trump landed at Hamad International Airport in Doha and was met by Qatar’s Emir Sheikh Tamim, who was waiting on a yellow carpet to symbolize the desert peninsula’s sandy terrain.

Tomorrow, the President will meet Qatari business leaders for breakfast and greet U.S. soldiers at the Al Udeid U.S. Air Base, before taking off for the UAE.

In his two-day visit to Riyadh, Trump lavished attention on Crown Prince Mohammed bin Salman, who said he would try to meet the President’s challenge for investing $1 trillion in the U.S. over the next four years.

At a Saudi-U.S. business conference in Riyadh, Trump and MBS held court with a constellation of billionaires, including Tesla’s Elon Musk, OpenAI’s Sam Altman, Nvidia’s Jensen Huang, BlackRock’s Larry Fink, Blackstone’s Stephen Schwarzman and Bridgewater’s Ray Dalio.

From the Saudi business world, the conference featured Muhammad Al Jasser, Chairman of Islamic Development Bank; Nabeel Koshak, CEO of Saudi Venture Capital; Marc Winterhoff, Interim CEO of Lucid; John Pagano, Group CEO of Red Sea Global; Mohammad Abunayyan, Chairman of ACWA Power; Tony Douglas, CEO of Riyadh Air; and Jerry Inzerillo, Group CEO of Diriyah Co.

The Saudi Crown Prince wrapped up the day by bringing Trump for a tour of Diriyah, the ancestral home of the Al Saud royal family, which was led by Inzerillo. The site is undergoing a massive renovation as one of the multibillion megaprojects undertaken by the kingdom, along with the 100-mile long Neom city on the kingdom’s west coast and the Al Mukkab skyscraper cube in Riyadh.

Among the biggest issues discussed in Saudi Arabia on Tuesday was the extent to which the Trump administration would lift sanctions on AI semiconductor chips that are being eagerly sought by the Gulf states.

Nvidia, the world’s biggest semiconductor maker, agreed to supply its most advanced AI chips to Saudi Arabia’s Humain, a company created to push that country’s AI infrastructure efforts, Bloomberg reports. Humain will get “several hundred thousand” of Nvidia’s most advanced processors over the next five years, starting with 18,000 of its cutting-edge GB300 Grace Blackwell products and its InfiniBand networking technology.

Huang saw his personal net worth surge to approximately $120 billion over the day, up from $80 billion a year ago, driven by soaring demand for the company’s AI chips that has fueled a sharp rise in its stock, Reuters reports.

AMD, Nvidia’s nearest rival in AI accelerators, will provide chips and software for data centers “stretching from the Kingdom of Saudi Arabia to the United States” in a $10 billion project, Humain and AMD said.

Also, Saudi VC firm STV launched a $100 million AI fund backed by Google to invest in MENA startups, as part of a broader set of tech-focused U.S.-Saudi agreements announced during President Trump’s visit to Riyadh, Bloomberg reports. And Saudi Arabia agreed to authorize the use of Musk’s Starlink service for aviation and maritime shipping, the SpaceX founder announced.

Musk sees Saudi future with robots and self-driving taxis

Autonomous taxis and humanoid robots will soon be on the streets of Saudi Arabia, according to Tesla CEO Elon Musk.

The world’s wealthiest person told the Saudi-U.S. Investment Forum in Riyadh that it would be “very exciting to have autonomous vehicles here in the kingdom” and that Tesla’s Optimus robots would also be deployed, without naming any dates.

Musk said he expected robotics to boost the global economy to “10 times the size” by aiding productivity.

“They can walk around, they can interact. I think we’re headed to a radically different world,” he said.

Musk, who is part of U.S. President Donald Trump’s high-level delegation to the Gulf, also touted his tunneling venture, The Boring Company, as a way to solve Riyadh’s chronic traffic congestion.

Musk faced ridicule for the Optimus project last year after it turned out a demonstration of the robots was remote-controlled by humans

MBS tells Trump in Riyadh he’ll try to invest $1 trillion in U.S.

Saudi Crown Prince Mohammed bin Salman told President Donald Trump and a solid portion of the world’s business elite on Tuesday that he hopes to fulfill his pledge to invest $600 billion in the U.S. and might even hit the $1 trillion mark sought by the White House.

In turn, Trump praised MBS as a visionary leader and hailed the U.S.-Saudi alliance as a profitable enterprise for both sides as the two spoke at a business conference in Riyadh and the president kicked off a four-day swing through the Gulf that will also take him to Qatar and the UAE.

“Today we hope for investment opportunities worth $600 billion, including deals worth $300 billion that were signed during this forum,” the Saudi leader said in a speech at the capital city’s King Abdulaziz International Conference Center. “We will work in the coming months on the second phase to complete deals and raise it to $1 trillion,” he said.

A good chunk of that commitment will come from an agreement to sell Saudi Arabia an arms package worth nearly $142 billion, which the White House called “the largest defense cooperation agreement” that the U.S. has ever signed.

Trump beamed as he followed MBS onstage to address an audience that included Tesla founder Elon Musk, Nvidia CEO Jensen Huang, BlackRock CEO Larry Fink, Aramco CEO Amin Nasser, Saudi Public Investment Fund Governor Yasir Al-Rumayyan and hundreds of other corporate leaders, investors and government officials from the two countries.

The President thanked MBS for setting the $1 trillion goal and talked for close to an hour about his affection for the kingdom, ticking off several of the deals signed by the two countries during the day.

“So, number one, I like visiting with you, and we’ve known each other very well, and I really believe we like each other a lot and, number two, for the United States, we’ve brought tremendous investment in and tremendous jobs, and we continue to service your great country very well,” Trump said.

The U.S. leader also said he maintains a “fervent hope” that Saudi Arabia will join the Abraham Accords to normalize relations with Israel, as the UAE, Bahrain and Morocco did in 2020, though he added, “you’ll do it in your own time.”

Earlier in the day, the Saudi Crown Prince took the unusual step of greeting Trump in person when the president landed on a flight from Washington at King Khalid International Airport outside Riyadh.

Unlike former President Joe Biden’s tense visit and cautious fist bump in 2022, MBS stood on the tarmac and patiently watched Trump descend from Air Force One onto a royal purple carpet. The two shook hands and Trump gave the prince a warm shoulder tap before they strode together to the waiting motorcade.

The greeting underlined the intentions on both sides to make Trump’s first regional trip in his second term a public success and broadcast the closeness of the U.S.-Saudi alliance.

Inside the Al-Yamamah Palace where a lavish reception and lunch were held, both leaders were accompanied by top Cabinet ministers and a roster of business leaders, with Trump’s entourage including Musk and OpenAI’s Sam Altman.

Conversations at the Saudi-U.S. Investment Forum – held at the same site beside the marble-lined Ritz-Carlton Hotel as the annual Future Investment Initiative conference – were focused on concrete dealmaking and illustrated the seriousness in both countries to make the most of the rare event, said Tally Zingher, Managing Director of the U.S.-headquartered boutique advisory firm Blue Laurel.

“Being here allows me to listen and observe firsthand how the Saudis are articulating their priorities and how those priorities have already manifested into concrete opportunities for U.S. companies,” Zingher told The Circuit.

Among the headliners addressing the conference were Khalid Bin Abdulaziz Al-Falih, Minister of Investment; Mohammed Al-Jadaan, Minister of Finance; Prince Abdulaziz bin Salman, Minister of Energy; Bandar Alkhorayef, Minister of Industry and Minerals and Faisal Alibrahim, Minister of Economy & Planning.

The U.S. delegation was headed by Scott Bessent, Secretary of the Treasury; Howard Lutnick, U.S. Secretary of Commerce; and David Sacks, the White House Special Advisor on AI and Crypto.

From the Saudi business world, the conference featured Muhammad Al Jasser, Chairman, Islamic Development Bank; Nabeel Koshak, CEO of Saudi Venture Capital; Marc Winterhoff, Interim CEO of Lucid; John Pagano, Group CEO of Red Sea Global; Mohammad Abunayyan, Chairman of ACWA Power; Tony Douglas, CEO of Riyadh Air and Jerry Inzerillo, Group CEO of Diriyah Co.

U.S. financiers at the forum included Citigroup’s Jane Fraser, Franklin Templeton’s Jenny Johnson, Blackstone’s Stephen Schwarzman and Bridgewater’s Ray Dalio, LionTree’s Aryeh Bourkoff and BDT & MSD Partners’ Dina Powell McCormick.

From the U.S. tech industry, Palantir’s Alex Karp joined the forum as well as Alphabet/Google’s Ruth Porat, Amazon’s Andy Jassy, IBM’s Arvind Krishna and Qualcomm’s Cristiano Amon.

With planemakers and defense contractors set to reap billions in Saudi deals, the conference featured Boeing’s Kelly Ortberg, Lockheed Martin’s Michael Williamson, Honeywell’s Ken West and Halliburton’s Jeff Miller.

Among other speakers at the summit, Miami Mayor Francis Suarez is a perennial fixture at the FII conference and hosted a spinoff conference in his city last February, where Trump spoke. Also appearing was Gianni Infantino, President of world soccer’s governing FIFA organization, after Saudi Arabia was picked to host the 2034 World Cup.

Musk’s xAI, Nvidia join with MGX in artificial intelligence fund

The UAE’s biggest tech firms are capitalizing on White House support to tighten partnerships with America’s leaders in the booming industry of artificial intelligence.

A consortium created last year by Abu Dhabi investment fund MGX, Microsoft and BlackRock to finance power-hungry AI data centers welcomed chipmaker Nvidia and Elon Musk’s xAI to the group on Wednesday.

Expansion of the top-level venture came amid the Washington visit by Sheikh Tahnoon bin Zayed, the UAE National Security Advisor and Chairman of MGX and a constellation of other tech companies, who dined at the White House this week with President Donald Trump.

Sheikh Tahnoon, who held a meeting with Musk through a video feed on Wednesday, has been accompanied through the trip by Khaldoon Al Mubarak, the MGX Vice Chairman and CEO of the Mubadala sovereign wealth fund. Also on the visit is Dr. Sultan Al Jaber, CEO of the ADNOC national oil company and the UAE Minister of Industry and Advanced Technology. Peng Xiao, CEO of the Abu Dhabi-based AI company G42, joined the call with Musk.

Among the other meetings in his U.S. rounds, Sheikh Tahnoon said he “explored opportunities for collaboration and investment” with Oracle’s Larry Ellison.

ADQ, meanwhile, another Abu Dhabi sovereign wealth fund chaired by Sheikh Tahnoon, agreed to invest a combined $5 billion in a partnership with U.S-based Energy Capital Partners to build power stations for data centers and AI projects – with the investment eventually reaching $25 billion.

The announcement came as Nvidia CEO Jensen Huang told the company’s GTC conference in San Jose, Calif., that the industry is preparing for a massive leap in building data centers and chip manufacturing plants with accompanying energy demand.

“Over the next several years, we’re going to be building giant AI factories,” he said. Not normal AI factories … ones you see from space,” Huang said.

Saudi Arabia underlines U.S. focus with new Miami trade office

Saudi Arabia’s Miami Beach investment conference wrapped up on Friday with discussions ranging from the billion-dollar real estate projects cropping up in Riyadh to Elon Musk’s quest for Mars.

Topping the agenda at the FII Priority Summit was a talk by Public Investment Fund Governor Yasir Al-Rumayyan, the Aramco Chairman who was scheduled to discuss the $925 billion Saudi sovereign wealth fund’s current aims in an onstage chat with former Google CEO Eric Schmidt.

Others appearing at the conference on Friday included Softbank Chairman and CEO Masayoshi Son; Barry Sternlicht, Chairman and CEO of Starwood Capital; Steve Cohen, Chairman & CEO of both Point72 and the New York Mets; Dara Khosrowshahi, CEO of Uber; Gwynne Shotwell, President & COO of Musk’s SpaceX; and Jerry Inzerillo, Group CEO of Riyadh’s Diriyah development project.

After capturing world attention with U.S. President Donald Trump’s opening speech on Wednesday, the summit got down to business the following morning at a discussion with Saudi Minister of Investment Khalid al-Falih, who said the government this year is especially focused on Washington.

“Expect that great relationship between America and Saudi Arabia to get stronger,” Al-Falih said, announcing that the kingdom will open a branch of its “Invest Saudi” trade office in the Florida city.

Appearing with Miami Mayor Felix Suarez and the Saudi Ambassador to the U.S., Princess Reema bint Bandar, Al-Falih said the new branch would also be a gateway for investment in South America. He was accompanied to the conference by Abdulrahman Bakir, the ministry’s Managing Director for the Americas. 

“By selecting Miami as our second office for Invest Saudi after Washington… we’re opening new pathways for inbound investment into the Kingdom of Saudi Arabia, but also for facilitating outbound investment,” said Al-Falih, speaking in a session moderated Dina Powell McCormick, Vice Chair and President of BDT & MSD Partners.

Also onstage on Thursday were White House Middle East Envoy Steve Witkoff and Jared Kushner, the President’s son-in-law and founder of Miami-based Affinity Partners, who discussed bringing together real-estate executives to consult on a plan for rebuilding the Gaza Strip.

Trump, meanwhile, waded into the stalled effort to unite golf’s PGA Tour with the upstart LIV Golf league that is owned by the PIF and led by Al-Rumayyan. The White House disclosed that the President met on Thursday with golf champ Tiger Woods, PGA Commissioner Jay Monahan and the PIF leader.

Musk talks digging tunnels and cutting budgets at Dubai summit

Offering the UAE an earth-boring contract potentially costing billions and a peek into his budget-slashing activities at the White House, Elon Musk headlined today’s final sessions at the World Governments Summit in Dubai.

Musk, the world’s wealthiest person, appeared on giant screens before the conference’s 6,000 participants, looking like Big Brother with the words, “Tech Support” emblazoned on his black T-shirt.

The 54-year-old chief of X, Tesla, SpaceX and The Boring Company earlier signed a draft agreement with the UAE government to dig the foundations for the “Dubai Loop.” He said the new public transportation system would speed residents and visitors underground across the Gulf financial center that is home to the Burj Khalifa, the world’s tallest skyscraper.

“You just wormhole from one part of the city – Boom! – you’re out in another part of the city,” Musk said, answering questions from Omar Al Olama, the UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, as well as Vice Chair of the conference.

Describing his work as head of U.S. President Donald Trump’s newly created Department of Government Efficiency, known as DOGE, Musk said dismantling the U.S. Agency for International Development reflects a new approach: Washington is  “less interested in interfering with the affairs of other countries,” he said.

“Basically, America should mind its own business rather than push for regime change all over the place,” Musk told the crowd, which included at least 30 presidents and prime ministers from across the globe.

Musk was the last in a series of tech leaders from some of the world’s biggest companies who spoke at the government summit. On Wednesday, Oracle’s Larry Ellison and former U.K. Prime Minister Tony Blair teamed up to examine the promise and threats of artificial intelligence.

Ellison, also speaking virtually with Blair onstage in Dubai, said AI will be transformative for governments and a broad range of industries including medicine, agriculture and robotics.

“Countries need to unify their data so it can be consumed and used by the AI model,” Ellison said, warning about the dangers of lax information security. “The digital tools we have right now are so primitive,” he said. “We can easily be locked out of all our data; passwords and data are so easily stolen and ransomed. We need to modernize our systems.”

On the first day of the conference, Robin Li, CEO of China’s Baidu, talked about how the high costs of AI development have forced the world’s second-largest economy to find new computing solutions, including DeepSeek, which has come up with vastly cheaper AI models than those developed by OpenAI, Microsoft and Google.

“You just don’t know when and where innovations come from,” Li said.

Baidu’s Li tells Dubai summit AI costs pushing China to innovate

Inside Dubai’s luxurious Madinat Jumeirah resort at the World Governments Summit, some 6,000 participants were scrambling between hotel ballrooms on Tuesday to see a parade of government and corporate leaders talk about the future of the earth.

Another 1.5 million tuned in on the web feed. Topping the agenda in one session after another was how to address the promise and threats presented by artificial intelligence.

Robin Li, CEO of China’s Baidu talked about how the high costs of AI development have forced the world’s second-largest economy to find new computing solutions, including DeepSeek, which has come up with vastly cheaper AI models than those developed by OpenAI, Microsoft and Google.

“You just don’t know when and where innovations come from,” Li said in an onstage conversation with Omar Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications.

Kristalina Georgieva, the Bulgarian economist who serves as Managing Director of the International Monetary Fund, said the world is at an important juncture that will determine whether AI turns into a great story or a nightmare. “There are many, many unknowns,” she sighed.

Adding a touch of glamor on Monday night was a star-studded event at the Museum of the Future, where many of the WGS delegates attended TIME magazine’s Impact Awards Gala, which featured appearances by Grimes, the artist, singer and ex-life partner of Elon Musk, as well as video artist Refik Anadol and musician Arqam Al Abri.

Topping the bill on Wednesday will be Oracle’s Larry Ellison, former U.K. Prime Minister Tony Blair and former Prime Minister Boris Johnson, who will deliver a keynote address in the morning. Google’s Sundar Pichai and Goldman Sachs’ Jared Cohen will speak in separate sessions on the future of tech.

Musk, Ellison, Blair to top roster at Dubai government summit

Elon Musk, Sundar Pichai, Larry Ellison and Tony Blair will headline next week’s World Governments Summit in Dubai, one of the Middle East’s key annual gatherings for both politicos and investors.

Artificial intelligence, of course, is a major focus this year with Omar Al Olama, the UAE’s Minister of State for AI, Digital Economy and Remote Work Applications – and summit Vice Chairman, due for an onstage chat on Tuesday with Google CEO Pichai.

Musk, the world’s richest person, is expected to make an appearance in a session called “Boring Cities, AI and DOGE.” Blair, the world-trotting entrepreneur and former U.K. Prime Minister, and Oracle founder Ellison will interview each other in front of the 6,000 registered participants.

The political line-up over the three-day conference will feature the presidents of Indonesia, Poland, Sri Lanka, and Colombia, along with the prime ministers of Kuwait, Armenia, Pakistan, Kenya, Libya, Georgia, and Bangladesh.

In Miami, meanwhile, final preparations are underway for the Saudi Future Investment Initiative’s Priority Summit, a spinoff of the annual Davos-patterned event in Riyadh.

Among those participating in the Feb. 19-21 meeting will be Saudi Ambassador to the U.S. Princess Reema bint Bandar, Minister of Investment Khalid Al-Falih, PIF Governor and FII Institute Chairman Yasir Al-Rumayyan, SoftBank Group Corp Chairman and CEO Masayoshi Son and Serena Ventures Managing partner Serena Williams.

Also BlackRock Co-founder and President Robert S. Kapito, Oracle  Safra Catz, Neuberger Berman Chairman and CEO George Walker, Point72 CEO and New York Mets owner Steven Cohen, Uber Technologies CEO Dara Khosrowshahi, and Bridgewater Associates CEO Nir Bar Dea.