During a regional tour to Riyadh, US President Donald Trump and Saudi Crown Prince Mohammed bin Salman signed a wide-ranging economic partnership agreement aimed at deepening bilateral ties.
The White House confirmed that defence agreements valued at $142 billion were concluded as part of the visit. In addition to military deals, Saudi Arabia will acquire $14.2 billion worth of gas turbines and place a $4.8 billion order for Boeing aircraft.
The agreement also includes the creation of a $5 billion energy investment fund and a separate $5 billion fund targeting innovation in aerospace and defence technologies.
In a move signalling broader ambitions, both countries will also launch a $4 billion global sports fund, further diversifying their economic cooperation beyond traditional sectors.