The following is a summary of all announcements from the past month regarding investment deals, partnerships, and other commercial news between U.S. and Saudi companies.
Oil & Gas
Aramco is a member of the U.S.-Saudi Business Council.
Baker Hughes (NASDAQ: BKR), a U.S. energy technology company, announced it has been awarded an order by Tecnicas Reunidas for six gas compression trains and six propane compressors, for the third expansion phase of Aramco’s Jafurah gas field. The order was booked in the fourth quarter of 2024.
Aramco is a member of the U.S.-Saudi Business Council.
Defense & Security
U.S. Greenlights $78.5 Million Lightweight Torpedo Sale to Saudi Arabia
The U.S. government has authorized the potential sale of MK 54 MOD 0 lightweight torpedoes to Saudi Arabia under a $78.5-million deal. Saudi Arabia has requested 20 ready-to-launch lightweight torpedoes, including spare parts, MK 54 recoverable exercise torpedoes, and handling shapes and containers. The deal also comes with logistics and program support, involving up to two U.S. government or RTX contractor representatives traveling to the country.
RTX Corporation (Raytheon Saudi Arabia) is a member of the U.S.-Saudi Business Council.
ICT
SandboxAQ and Aramco Sign AI Agreement
U.S.-based SandboxAQ announced it has signed an agreement with Aramco to collaborate on developing a multi-GPU enabled differentiable computational fluid dynamics solver for application in oil and gas processing facilities.
Amazon Web Services (AWS) has announced expansion in Saudi Arabia by launching a new Amazon CloudFront edge location in Jeddah. The new AWS edge location brings the full suite of benefits provided by Amazon CloudFront, a secure, highly distributed, and scalable content delivery network that delivers static and dynamic content, APIs, and live and on-demand video with low latency and high performance.
Newlab, a global venture platform for critical technology startups, announced its expansion into Saudi Arabia through an integrated public-private partnership involving multiple public sector agencies and leading industry partners. The initiative will support Newlab’s mission to accelerate the commercialization of critical technologies by aligning cross-sector partners, infrastructure, capital, and resources in strategic geographies around the world.
Aerospace & Aviation
Matternet Receives Approval to Operate M2 Drone in the Kingdom of Saudi Arabia
Medical & Pharmaceuticals
Sanabil Investments, a wholly owned company by the Public Investment Fund, and Redesign Health, a leading healthcare venture builder, announced a strategic partnership to accelerate healthcare innovation in Saudi Arabia. The partnership establishes the Sanabil Venture Studio by Redesign Health, designed to empower founders to launch and scale transformative healthcare companies in Saudi Arabia through an ecosystem of capabilities supporting ideation, commercial traction, and execution.
Tourism & Entertainment
Saudi Arabia to Host Royal Rumble in 2026
WWE, in partnership with The General Entertainment Authority, on behalf of H.E. Turki Alalshikh, announced that the 39th annual Royal Rumble will be held in January 2026 in Riyadh, Saudi Arabia. This landmark event marks the first time the Royal Rumble will be hosted outside of North America.
Saudi Arabia’s SURJ Sports Investment Partners with Enfield Investment to Boost Global Portfolio
Saudi Arabia’s SURJ Sports Investment Co. signed a strategic partnership agreement on Monday with U.S.-based Enfield Investment Partners to expand and enhance investments in the global sports sector. The partnership follows EIP’s recent launch of a $4 billion global fund aimed at investing in sports assets.
