President Trump’s trip to the Middle East this week freely mixed business and diplomacy as he came across more than 50 CEOs and executives during his whirlwind trip from Saudi Arabia to the United Arab Emirates, according to a Yahoo Finance tally.
Many of the big names appeared during a stop at the Royal Court of Saudi Arabia that had at least 19 top CEOs in attendance — from OpenAI’s (OPAI.PVT) Sam Altman to Nvidia’s (NVDA) Jensen Huang to Citigroup’s (C) Jane Fraser.
These types of visits were nonstop as the president continued on to Qatar, trying to capitalize on a wave of enthusiasm around artificial intelligence in the region. He also encouraged all types of investment in both the US and the Middle East while pushing the ethical boundaries of his own business dealings.
The focus on AI was particularly striking, with Trump mingling with AI executives to open his travels and then wrapping things up Thursday with the groundbreaking of an “AI campus” in Abu Dhabi.
The trip was also an opportunity to reemphasize the influence of Elon Musk, who again appeared by Trump’s side at multiple stops.
One consistent message from Trump throughout the trip was increased business investment.
During a stop in Saudi Arabia, he hailed a region that he said is “forging a future where the Middle East is defined by commerce, not chaos; where it exports technology, not terrorism; and where people of different nations, religions, and creeds are building cities together — not bombing each other out of existence.”
What Trump’s outsized efforts will translate to in the years ahead remains to be seen, but the trip boosted multiple stock prices for this week at least.
Boeing (BA) shares hit 52-week highs after CEO Kelly Ortberg joined Trump at multiple stops and then announced a large plane order from Qatar Airways.
Trump also eased restrictions on artificial intelligence chip exports to Saudi Arabia during a meeting with Saudi Prince Mohammed bin Salman in a move that helped the price of Nvidia jump.
President Donald Trump and Saudi Crown Prince Mohammed bin Salman, in front, pose for a photo with business leaders on May 13 in Riyadh, Saudi Arabia. The guests included Nvidia CEO Jensen Huang and Alphabet chief investment officer Ruth Porat, among others. (Win McNamee/Getty Images) ·Win McNamee via Getty Images
The focus on semiconductors and artificial intelligence was perhaps the biggest business-world focus of the highly anticipated trip.
“The relationship between the United States and the Gulf has changed in the past 10 years,” noted Middle East Institute senior fellow Mohammed Soliman in a live Yahoo Finance appearance, calling the region increasingly a “very powerful player in the AI ecosystem globally.”
Other CEOs, meanwhile, voiced concerns about the global economy in the wake of Trump’s trade war, with BlackRock (BLK) CEO Larry Fink saying at a Saudi-US Investment Forum during his trip that trade uncertainty still has Western investors holding back.
Others at the forum were more optimistic, with Citigroup’s Fraser saying volatility is an opportunity to “seize the moment.”
This week also saw Tesla (TSLA) and SpaceX CEO Elon Musk remind the world of his continued closeness to Trump.
Figure like Blackrock’s Larry Fink, Tesla’s Elon Musk, Blackstone’s Stephen Schwarzman are seen with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent in Riyadh, Saudi Arabia on May 13. (AP Photo/Alex Brandon) ·ASSOCIATED PRESS
One of Musk’s appearances was at the head table during a state dinner in Qatar alongside Blackstone (BX) CEO Stephen Schwarzman. Musk’s business interests were also part of the formal ceremonies themselves, with red Tesla Cybertrucks helping to escort Trump’s presidential motorcade in Doha.
The theme of business investment was repeated again and again, even coming up in some unexpected places.
Economic development was prominent during a surprise meeting with the president of Syria, reportedly the first encounter between the two nations’ leaders in 25 years.
Trump announced he would be lifting economic sanctions on the nation, and the official White House summary said the meeting concluded with Syrian President Ahmed al-Sharaa expressing a hope for increased trade as he “invited American companies to invest in Syrian oil and gas.”
During a subsequent back-and-forth with reporters, the president didn’t even dismiss the notion of new relations with Syria leading to a potential Trump Tower in Damascus, saying, “We’ll have to wait a little while until things calm down.”
A Tesla Cybertruck owned by the Qatari police escorts the motorcade of President Trump in Doha on May 14. (BRENDAN SMIALOWSKI/AFP via Getty Images) ·BRENDAN SMIALOWSKI via Getty Images
It was emblematic of a trip that critics said tore down ethical boundaries between Trump’s public duties and personal interests, with Trump’s company (which he still owns) actively involved in business dealings with all three of the countries that he visited this week.
Questions arose on each leg.
It started with questions around Trump’s business relationship with LIV Golf, which is financed by Saudi Arabia’s sovereign wealth fund.
Then his second stop in Qatar highlighted his plans to accept a luxury jet from Qatar, which the president’s library plans to take control of after he leaves office.
