Happy Thursday everyone!

US President Donald Trump’s Gulf visit just keeps giving. On day 2, Trump took part in the GCC-US Forum, where he met Syrian President Ahmed Al-Sharaa and provided him a 5 point brief on what the US expects in return for the historic decision of lifting the sanctions. Meanwhile, the second leg of his Gulf visit started in Doha where he was able to bag $243 billion in deals from Qatar, which the White House says will create $1.2 million in economic activity.

In other news, but on the same tangent, UAE and US officials are readying an AI and tech deal when Trump arrives in the UAE today, The National reports. Also, Damac’s Hussain Sajwani tells Forbes Middle East that he is going all-in on AI.

But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.

Day 2 – Donald Trump's Gulf Visit

First Half: In Riyadh, Saudi Arabia

• US-GCC Summit:
  Trump participated in a high-profile summit with Gulf Cooperation Council (GCC) leaders.

• Key Topics Discussed:

  • Gaza: All sides agreed it must end, hostages released, and humanitarian aid delivered.

  • Syria: Trump announced lifting US sanctions, supported by Saudi Arabia and Turkey.

  • Trump met Syrian President Ahmad Al Shara, calling him a “tough guy” with potential to stabilize Syria. Trump urged Syria to:

    • Establish ties with Israel

    • Join the Abraham Accords

    • Take control of ISIS prisons

    • Deport Palestinian terrorists

• Bilateral Deal Announcements Day 1:

  • $142 billion Saudi purchase of US weapons – “largest” military deal

  • $80 billion tech investments involving Google, Nvidia, Oracle, Uber, and DataVolt

  • AviLease buys $4.8 billion worth of Boeing 737-8 jets

  • $3.4 billion investment by Saudi Aramco in its Texas Motiva refinery

  • Elon Musk’s Starlink to enter Saudi Arabia.

Second Half: In Doha, Qatar

• Arrival and Reception:

  • Greeted personally by Emir Sheikh Tamim

  • Lavish welcome with camels, horses, sword dances, and Cybertruck police escort

  • Traditional ceremony at Amiri Diwan palace

• Private Meeting:

  • A 2+ hour closed-door meeting between Trump and Sheikh Tamim – longer than scheduled

• Key Agreements Signed:

  • $200+ billion deal for over 160 Boeing jets for Qatar Airways

  • Defence cooperation agreement signed by US Pentagon Chief Pete Hegseth

  • Overall economic deals valued at $243 billion

  • White House said deals will generate $1.2 trillion in economic activity

• Trump's Remarks:

  • Called Sheikh Tamim “an outstanding man”

  • Praised Qatar-US relations going to “another level”

  • Noted “record-breaking” Boeing order

• Geopolitical Focus:

  • Gaza ceasefire negotiations (Qatar mediating)

  • Iran, trade, and regional security discussed

• Cultural/Political Optics:

  • Trump thanked Qatar for the “beautiful friendship”

  • Admired the Amiri Diwan’s architecture: “perfect marble”

• Notable Side Meeting:

  • Indian billionaire Mukesh Ambani attended the state dinner with Trump and Sheikh Tamim

• Planned for Day 3 (Thursday):

  • Breakfast with US-Qatar business leaders

  • Visit to Al Udeid Air Base for military briefing and troop meeting.

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Markets

UAE and US Officials in Advanced Talks to Finalise Majid AI and Tech Partnership: The National

🔹 What Is It About:

• UAE and US officials are in advanced talks to finalise a major artificial intelligence and technology partnership ahead of former President Donald Trump’s visit to the Emirates on Thursday.

• Sources confirm ongoing discussions to establish a broader AI framework that aligns with the UAE’s strategic technology ambitions and the US’s shifting chip export policy.

• The visit comes amid signs that the US may loosen AI chip export restrictions, a move that could benefit partners in the Middle East like the UAE and Saudi Arabia.

• Data centre growth and energy demands are central to the discussions, as the UAE positions itself as a global hub for AI infrastructure, leveraging its energy capabilities and digital ecosystem.

🔹 Why It Matters:

• Energy is emerging as a key bottleneck for AI development, giving Gulf countries like the UAE and Saudi Arabia a critical edge due to their ability to provide stable, clean, and large-scale power.

• The UAE’s investments in clean energy projects, such as the Barakah nuclear plant and Masdar’s 24/7 renewable energy facility, support its ambitions to become an AI superpower.

• Long-standing UAE investments in semiconductors and AI — including funding for GlobalFoundries and partnerships with Nvidia, Microsoft, and Google — have laid the groundwork for deeper US collaboration.

• The region’s AI infrastructure expansion and LLM development, such as the Jais model and MBZUAI, make the UAE a strategic partner in Washington’s broader technology agenda.

🔹 What’s Next:

• A potential AI pact could be announced during Trump’s visit, aligning with the UAE’s vision to offer computing power as a global service.

• Saudi Arabia is also advancing rapidly, with its PIF launching the Humain AI initiative and securing GPU deals with Nvidia.

• Industry experts say regional AI competition will likely converge into broader cooperation, turning the Gulf into a unified AI powerhouse over the next few years.

• With prominent tech leaders attending forums in both Riyadh and Abu Dhabi, the Middle East’s influence in global AI strategy is expected to accelerate.

Damac’s Hussain Sajwani is Betting Big On AI: Forbes Middle East Exclusive

🔹 What Is It About:

• DAMAC Group chairman Hussain Sajwani is doubling down on AI and digital infrastructure, announcing a $20 billion investment through EDGNEX to build data centers across the U.S., targeting 2,000 MW capacity over four years, he told Forbes Middle East in an exclusive interview.

• The move coincides with growing global demand for AI capabilities, and comes in the wake of a key meeting between Sajwani and U.S. President Donald Trump.

• DAMAC is now positioning itself not only as a real estate leader, but as a serious global tech infrastructure player, leveraging its deep liquidity, banking access, and early investments in firms like OpenAI, Anthropic, and SpaceX.

🔹 Why It Matters:

• Sajwani’s pivot reflects a broader trend among Gulf giants—capitalising on global disruption to diversify beyond oil and real estate.

• With the UAE’s stable macroeconomic environment, growing AI capability, and major clean energy projects, DAMAC’s expansion represents the convergence of Gulf capital with next-gen tech infrastructure.

• Sajwani’s strategic approach—layering value from land to cloud computing—offers a blueprint for legacy GCC businesses eyeing the next phase of global relevance.

🔹 What’s Next:

• EDGNEX is targeting hyperscaler clients in the U.S. and MENA, while exploring GPU procurement and modular cloud offerings, with a pipeline of over 3,000 MW globally.

• In the Middle East, data centers are being built in Riyadh, Dammam, Amman, and Türkiye, with future expansion into Jordan and beyond.

• DAMAC’s evolution signals the GCC’s ambitions to serve as a neutral, high-capacity bridge between East and West in the AI era—offering infrastructure, capital, and strategic stability.

🔍From Smashi Business’ Desk

• American Media Outlet Makes Claim That Bob Iger Vetoed A Saudi Proposal For Disney Park Over Local Laws.

• UAE billionaire Khalaf Al Habtoor steps up with a bold proposal to build schools in residential areas, easing students’ long commutes and enhancing learning.

• Saudi Arabia rolled out a special mobile McDonald's truck just for President Trump during his visit.

• In a 2021 interview, Theme Park Guy Stefan Zwanzger asked Miral CEO Mohamed Al Zaabi about a Disneyland in Abu Dhabi. Al Zaabi laughed: “Next please.” Fast forward to 2025—Disneyland Abu Dhabi is official.

🔍In other news…

• Saudi Aramco Inks Deals Worth Up To $90B With US Firms To Support Long-Term Growth Strategy.

• US investment managers Fortress and Kimmeridge open offices in Abu Dhabi in push for deals.

• Saudi Prince Alwaleed Bin Talal’s Kingdom Holding Posts 120% Growth In Q1 2025 Net Profit To $115M.

• Saudi Arabia’s PIF Secures Up To $12B In Deals With Top US Asset Managers.

• UAE-Jordan CEPA to come into effect today (Thursday).

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