Saudi Arabia gas and oil giant Aramco has announced deals with 34 U.S. companies worth up to $90 billion. The U.S. companies included in the deal span a variety of industries and include Nvidia (NVDA), Amazon (AMZN), and ExxonMobil (XOM). Aramco is currently the sixth largest company in the world with a market capitalization of $1.68 trillion.
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U.S. Companies to Collaborate With Aramco in Multibillion Dollar Agreement
With Nvidia, Aramco has a memorandum of understanding (MoU) that will see the AI leader build data center infrastructure and lead training programs. NVDA stock is trading 3.54% higher on the news, leading all Dow Jones companies.
Aramco also inked a non-binding agreement with Amazon to advance a digital transformation process with lower carbon use.
“Our U.S.-related activities have evolved over the decades, and now include multi-disciplinary R&D, the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG, and ongoing procurement,” said Aramco CEO Amin Nasser.