Context:

In Riyadh, President Trump hosted a lunch with numerous prominent business executives, including Elon Musk and Sam Altman, to engage with U.S. and Saudi leaders. The gathering involved representatives from four of the ten largest U.S. companies, aiming to establish business ties with Saudi investors and influence U.S. trade policies affected by Trump's tariffs. Saudi Arabia's significant investment in artificial intelligence, part of its economic diversification strategy, attracted notable industry leaders such as the heads of OpenAI, Nvidia, and Amazon. Elon Musk, who is also involved in Trump's government restructuring efforts, was present, highlighting his pursuit of substantial financing for his A.I. endeavors. Additionally, the financial sector was well-represented, with executives from Blackstone, BlackRock, and Citigroup seeking opportunities in the kingdom's expansive technology and infrastructure projects.

Dive Deeper:

• The lunch in Riyadh included President Trump, Saudi Crown Prince Mohammed bin Salman, and top U.S. and Saudi officials, with a focus on fostering business relationships and addressing trade policies influenced by Trump's tariffs on U.S. trading partners.

• Executives from leading U.S. companies across various industries, particularly those in technology, banking, and consumer goods, were eager to engage with Saudi investors and government departments to expand their business operations.

• Saudi Arabia's strategic focus on investing in artificial intelligence as a means to diversify its economy and assert its influence in a crucial global sector was a key topic, drawing in prominent A.I. leaders like Sam Altman and Jensen Huang.

• Elon Musk's presence at the lunch underscores his dual role in supporting Trump's government downsizing efforts and managing his companies, including Tesla, SpaceX, and the A.I. firm xAI, which is seeking significant new funding.

• Top financial executives, such as Stephen Schwarzman from Blackstone and Larry Fink from BlackRock, attended to explore advisory roles and investment opportunities in Saudi Arabia's technology and infrastructure sectors.

• The lunch featured a diverse array of business leaders from companies like Google, Amazon, IBM, and Boeing, each looking to leverage Saudi Arabia's substantial financial resources for mutual benefit.

• The event highlighted the intersection of business, politics, and technology, with high-profile attendees aiming to influence U.S. trade policy and secure advantageous positions in the rapidly evolving global market.