12:43 PM EDT, 05/13/2025 (MT Newswires) -- (Updates with replies from Alphabet, Parsons starting in the fourth paragraph.)

President Donald Trump on Tuesday said Saudi Arabia has committed to invest $600 billion in the US with an initial focus on energy, defense, technology, global infrastructure and critical minerals.

Alphabet's (GOOG) Google ( GOOG ), DataVolt, Oracle (ORCL), Salesforce ( CRM ) , Advanced Micro Devices ( AMD ) and Uber Technologies ( UBER ) are pledging to invest $80 billion in technologies in both countries, according to a press release from the White House.

DataVolt is moving forward with plans to invest $20 billion in AI data centers and energy infrastructure in the US, while Hill International, Jacobs Solutions ( J ) , Parsons (PSN) and AECOM ( ACM ) are building King Salman International Airport, King Salman Park, The Vault, Qiddiya City and other infrastructure projects totaling $2 billion in US services exports.

"We are proud of this partnership for a global AI hub that will accelerate the application of AI to deliver innovation, economic growth and societal benefits to Saudi Arabia and to global companies doing business in the region," Alphabet Chief Investment Officer and President Ruth Porat said in a statement.

"Parsons is proud to be a part of President Trump's initiatives to strengthen strategic relations in Saudi Arabia," Parsons Chair, President and CEO Carey Smith said in an emailed statement. "As a global infrastructure leader with a presence in the Kingdom spanning more than six decades, Parsons has leveraged our global experience to build trusted partnerships and deliver critical infrastructure, supported by over 3,000 employees across the country with 50 active projects in the Kingdom, including mega and giga projects."

The other companies did not immediately reply to requests for comment from MT Newswires.

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