Saudi Arabia’s November pledge to invest nearly $1 trillion into the US economy brought positive statements from executives representing key sectors expected to benefit. But the promise also raised questions about real—as opposed to headline—commitment, the kingdom’s financial capacity, regulatory and geopolitical risk, and its human rights record.
In a prepared statement tied to a state visit last month by Saudi Crown Prince Mohammed bin Salman, the White House said the kingdom committed to increase an already pledged $600 billion in US investments to $1 trillion.
The enormity of the Saudi pledge suggests a strategic shift in capital, likely via the kingdom’s Public Investment Fund (PIF) or other state-linked vehicles, according to an assessment by Dubai-based Foreign Affairs Forum (FAF).
“Most analysts believe Saudi Arabia has sufficient resources to back the pledge, especially as it can deploy PIF assets and seek international partnerships or debt financing,” the FAF concluded. “However, the scale of the commitment raises concerns about the opportunity cost for domestic priorities and the risk of further straining public finances if oil revenues falter.”
Riyadh’s pledge promises to benefit a handful of strategic US sectors: nuclear energy, critical minerals, AI and computer infrastructure, defense, and capital markets and trade. A Saudi Investment event in Washington, DC on November 19 drew leaders from a spectrum of companies including Blackstone, Nvidia, Tesla, Salesforce, Global AI, and the state-owned Saudi AI company HUMAIN.
Human rights groups raised concern about the Saudi crown prince’s visit, however. The Committee to Protect Journalists and 10 other human rights and press freedom organizations called on the US government to press the crown prince “to end his government’s rights violations, release detained journalists, activists, and writers, and halt the systematic repression of free expression.”
