A diverse group of executives from tech giants, financial institutions, consumer brands, and other sectors—including representatives from four of the top 10 U.S. companies by market value attended a high-profile lunch in Saudi Arabia. Their goals were multifaceted: to pitch for business from Saudi Arabia’s deep-pocketed investors, businesses, and government entities, and to navigate the complexities of new U.S. trade policies. With tariffs imposed by the Trump administration on key U.S. trading partners, the trip provided a strategic opportunity to engage with senior Trump officials, such as Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, to influence trade policy and mitigate economic impacts.
Saudi Arabia is aiming to position itself as a global powerhouse in artificial intelligence (AI), channeling vast investments into the sector as part of its broader strategy to diversify its oil-dependent economy and gain influence in one of the most dynamic industries. Prominent AI leaders at the event included Sam Altman , CEO of OpenAI, the creator of ChatGPT; Jensen Huang, CEO of Nvidia, a leader in advanced chip manufacturing; Ruth Porat, president and chief investment officer of Alphabet, Google’s parent company; and Andy Jassy, CEO of Amazon, a dominant player in cloud-computing services critical to AI development.
Elon Musk , a standout figure at the lunch, juggles multiple roles: leading Trump’s initiative to streamline the federal government while steering Tesla, SpaceX, and xAI. His AI venture, xAI, is reportedly in discussions for a new funding round that could value the company at up to $120 billion, underscoring Saudi Arabia’s appeal as a potential investment partner.
The kingdom’s massive spending on technology, infrastructure, green energy, and other strategic priorities has made it a magnet for global financial leaders. Attendees included top financial executives such as Stephen Schwarzman of Blackstone, Larry Fink of BlackRock, and Jane Fraser of Citigroup, all eager to advise Saudi Arabia and its state-backed enterprises on investment opportunities and economic diversification. The event also highlighted Saudi Arabia’s growing role as a hub for public-private partnerships, with its sovereign wealth fund, the Public Investment Fund (PIF), actively seeking to expand its global portfolio in cutting-edge industries.
Here are some of the business executives and other guests at the lunch, according to a list provided by the White House:
Reid Hoffman, executive chair of LinkedIn, was on the list of attendees provided by the White House, but a representative said he did not attend.
Saudi Arabia is aiming to position itself as a global powerhouse in artificial intelligence (AI), channeling vast investments into the sector as part of its broader strategy to diversify its oil-dependent economy and gain influence in one of the most dynamic industries. Prominent AI leaders at the event included Sam Altman , CEO of OpenAI, the creator of ChatGPT; Jensen Huang, CEO of Nvidia, a leader in advanced chip manufacturing; Ruth Porat, president and chief investment officer of Alphabet, Google’s parent company; and Andy Jassy, CEO of Amazon, a dominant player in cloud-computing services critical to AI development.
Elon Musk , a standout figure at the lunch, juggles multiple roles: leading Trump’s initiative to streamline the federal government while steering Tesla, SpaceX, and xAI. His AI venture, xAI, is reportedly in discussions for a new funding round that could value the company at up to $120 billion, underscoring Saudi Arabia’s appeal as a potential investment partner.
The kingdom’s massive spending on technology, infrastructure, green energy, and other strategic priorities has made it a magnet for global financial leaders. Attendees included top financial executives such as Stephen Schwarzman of Blackstone, Larry Fink of BlackRock, and Jane Fraser of Citigroup, all eager to advise Saudi Arabia and its state-backed enterprises on investment opportunities and economic diversification. The event also highlighted Saudi Arabia’s growing role as a hub for public-private partnerships, with its sovereign wealth fund, the Public Investment Fund (PIF), actively seeking to expand its global portfolio in cutting-edge industries.
Here are some of the business executives and other guests at the lunch, according to a list provided by the White House:
- Tesla and SpaceX CEO Elon Musk
- Arvind Krishna, chair and chief executive of IBM
- Google parent Alphabet president and chief investment officer Ruth Porat
- Amazon CEO Andy Jassy
- OpenAI CEO Sam Altman
- Nvidia CEO Jensen Huang
- Palantir CEO Alex Karp
- Uber CEO Dara Khosrowshahi
Reid Hoffman, executive chair of LinkedIn, was on the list of attendees provided by the White House, but a representative said he did not attend.
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