Saudi’s Oil Wealth Is Moving to AI. Now MBS Needs Trump’s Blessing

Executives from Musk's xAI and Nvidia announced plans to develop a data center in Saudi Arabia during a gathering that included President Trump and Crown Prince Mohammed bin Salman. This initiative aims to enhance the region's artificial intelligence capabilities.

Elon Musk's xAI plans to establish a 500 megawatt data center in Saudi Arabia in collaboration with the state-backed AI venture Humain, utilizing chips from Nvidia Corp. This initiative is part of a broader strategy to enhance AI capabilities in the region.

Vedanta Ltd. is set to increase its investments in Saudi Arabia as the Indian conglomerate aims to capitalize on the kingdom's aspirations to establish itself as a hub for metals and mining amid its extensive economic transformation.

The US is set to approve the sale of advanced artificial intelligence chips to the Saudi Arabian AI firm Humain, according to sources familiar with the matter. This decision comes as Saudi Crown Prince Mohammed bin Salman meets with US President Donald Trump, marking a significant step for the state-backed venture. The approval is seen as a positive development for both the US technology sector and Saudi Arabia's ambitions in AI.

The Trump Organization is set to develop a luxury resort in the Maldives valued at $300 million in partnership with a Saudi Arabian firm. This project will involve tokenizing the hotel development, indicating a shift towards integrating blockchain technology in real estate ventures. The initiative reflects the growing trend of utilizing digital assets in large-scale investments, particularly in the hospitality sector.