The News
There is now a price tag on the deluge of deals the United Arab Emirates plans in the US.
The UAE has committed $1.4 trillion over the next decade to “substantially increase… existing investments” in artificial-intelligence infrastructure, semiconductors, energy, and manufacturing, according to a White House statement. The agreement follows UAE National Security Advisor Sheikh Tahnoon bin Zayed’s visit to Washington, where he met with President Donald Trump and top US officials, as well as industry titans like Microsoft’s Satya Nadella, Nvidia’s Jensen Huang, Amazon’s Jeff Bezos, and BlackRock’s Larry Fink.
The UAE has already deployed more than $1 trillion in the world’s largest economy, from a stake in Chicago’s parking meters to a majority of Nasdaq-listed chipmaker GlobalFoundries. Emirates Global Aluminium said last week it plans to invest in a new aluminum smelter that will nearly double US production.
The commitment by the Gulf state echoes what Trump hopes to extract from Saudi Arabia. In January he said Riyadh should spend as much as $1 trillion in the US economy over four years, linking the investment to a proposed visit to the kingdom.