From Reuters, May 13:
U.S. power equipment maker GE Vernova will export gas turbines and energy solutions totaling $14.2 billion to Saudi Arabia, the White House said on Tuesday, as part of a broader $600 billion investment commitment.
GE Vernova's shares were up 3.7% at $432.14 in morning trading after the news.U.S. President Donald Trump signed a strategic economic agreement with Saudi Arabia on the day as the oil power rolled out the red carpet at the start of his tour of the Gulf states, aimed at drumming up trillions of dollars in investments....
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GEV is up $24.88
(+5.97%)
at $441.51.
Here's the White House fact sheet, May 13:
....MOREThe following represent just a few of the many transformative deals secured in Saudi Arabia:
- Saudi Arabian DataVolt is moving forward with plans to invest $20 billion in AI data centers and energy infrastructure in the United States.
- Google, DataVolt, Oracle, Salesforce, AMD, and Uber are committing to invest $80 billion in cutting-edge transformative technologies in both countries.
- Iconic American companies including Hill International, Jacobs, Parsons, and AECOM are building key infrastructure projects like King Salman International Airport, King Salman Park, The Vault, Qiddiya City, and much more totaling $2 billion in U.S. services exports.
- Additional major exports include GE Vernova’s gas turbines and energy solutions totaling $14.2 billion and Boeing 737-8 passenger aircraft for AviLease totaling $4.8 billion.
- In the healthcare sector, Shamekh IV Solutions, LLC will be investing $5.8 billion, including a plant in Michigan to launch a high-capacity IV fluid facility.
- Investment partnerships include several sector-specific funds with a strong emphasis on U.S. deployment—such as the $5 billion Energy Investment Fund, the $5 billion New Era Aerospace and Defense Technology Fund, and the $4 billion Enfield Sports Global Sports Fund—each channeling substantial capital into American industries, driving innovation, and creating high-quality jobs across the United States.
Underscoring our commitment to strengthening our defense and security partnership, the United States and Saudi Arabia signed the largest defense sales agreement in history—nearly $142 billion, providing Saudi Arabia with state-of-the-art warfighting equipment and services from over a dozen U.S. defense firms....
