UAE President Shaikh Mohammed bin Zayed Al Nahyan yesterday announced an ambitious plan to invest $1.4 trillion in the US over the next decade.
Speaking alongside US President Donald Trump at the presidential palace in Abu Dhabi, Shaikh Mohammed said the investments would span critical sectors such as technology, artificial intelligence and energy.
“The UAE’s plan to invest $1.4 trillion in the United States over the next 10 years is a testament to the strength of our strategic relationship,” the UAE president said.
His remarks came during the final leg of President Trump’s four-day tour of the Gulf region, which has seen a wave of business and defence agreements with several countries.
Trump pledged to strengthen US ties to the UAE and announced deals with the Gulf state totalling more than $200bn and the two countries also agreed to deepen co-operation in artificial intelligence.
After Trump’s meeting with Shaikh Mohammed, the White House said he announced deals that included a $14.5bn commitment from Etihad Airways to invest in 28 Boeing 787 and 777x aircraft powered by engines made by GE Aerospace.
The US Commerce Department said the two countries also agreed to establish a “US-UAE AI Acceleration Partnership” framework and Trump and Shaikh Mohammed attended the unveiling of a new 5GW AI campus, which would be the largest outside the US.
Sources have said the agreements will give the Gulf country expanded access to advanced artificial intelligence chips from the US after previously facing restrictions over Washington’s concerns that China could access the technology.
Trump began a visit to the UAE on the latest stage of a tour of Gulf states after hailing plans by Doha to invest $10bn in a US military facility during a trip to Qatar.
“I have absolutely no doubt that the relationship will only get bigger and better,” Trump said in a meeting with the UAE president.
“Your wonderful brother came to Washington a few weeks ago and he told us about your generous statement as to the 1.4 trillion,” Trump said, referring to a UAE pledge to invest $1.4trn in the US over 10 years.
Trump was referring to Shaikh Tahnoon bin Zayed Al Nahyan, Shaikh Mohammed’s brother and the UAE’s national security adviser and chairman of two of Abu Dhabi’s sovereign wealth funds.
The US president was met at the airport in Abu Dhabi by Shaikh Mohammed, and they visited the Shaikh Zayed Grand Mosque, its white minarets and domes, impressive in the late-afternoon light.
A White House fact sheet said Trump had secured $200bn in new US-UAE deals and accelerated the previously committed $1.4trn.
Before his departure for the UAE, Trump said in a speech to US troops at the Al Udeid Air Base southwest of Doha that defence purchases signed by Qatar on Wednesday were worth $42bn.
The UAE has been seeking US help to make the Gulf nation a global leader in artificial intelligence.
The US has a preliminary agreement with the UAE to allow it to import 500,000 of Nvidia’s most advanced AI chips a year, starting this year, Reuters reported on Wednesday.
Other big business agreements have been signed during Trump’s four-day swing through the Gulf region, including a deal for Qatar Airways to purchase up to 210 Boeing widebody jets, a $600bn commitment from Saudi Arabia to invest in the US and $142bn in US arms sales to the kingdom.
&uuid=(email))