Transcription
Yesterday was the announcement of the grand opening of Humane. Thank you. Thank you very much. We're delighted to partner with you. I'm honored and delighted to have watched you form Humane. And now this is Saudi Arabia's AI company. Congratulations. Thank you very much.
And maybe we should share with everybody one of the most important things in building an AI company. You need the foundation and the infrastructure, and this infrastructure really relies very heavily on advanced chipsets and accelerated compute. Today we are announcing that we're doing a 500-megawatt deployment with Nvidia. It's a really, really big initiative for the kingdom, and I wanted Jensen just to give you a thought and idea about the innovation that Nvidia is bringing to Saudi Arabia and to the global AI ecosystem.
You want me to talk about this? Yes. So, this thing is sitting over here. I don't know if you guys could see it. It weighs too much to pick up. Uh, but this is this is two black wells, and it's 2,500 watts. 2,500 out of the 500-gigawatt of computing infrastructure that's going to be built.
As you know, artificial intelligence has been a revolutionary technology, the most transformative technology of our time, maybe of any time. And you've heard plenty about the capabilities of artificial intelligence. You've also heard how AI is going to transform every single industry, meaning that it's going to be the infrastructure of every single industry. And Humane is going to be building the AI infrastructure here in Saudi Arabia. But what people don't realize is unlike many technologies that are transformative, AI is also in itself an industry. It is a manufacturing industry. It's a manufacturing industry that requires energy. And as you know, Saudi Arabia is rich with energy. Giant versions of these these NVIDIA AI supercomputers, which are essentially AI factories. Energy powers these AI factories. Artificial intelligence tokens are generated, and those tokens are reformulated into applications and problem-solving AIs that Trek and Humane will create for Saudi Arabia and the rest of the world. Yeah, we're very, very excited, Jensen.
So once we address the infrastructure layer, of course, you know, the innovation that would come is the models, and we've seen all of the things that are happening in generative AI, and we're super excited about it, but I've also heard you talk about something else, the physical world and physical AI. Would you mind just giving a perspective on how this relationship between generative AI, the physical AI, and the platforms that Nvidia is providing to Humane?
Well, over the last 12 years, we've both been involved in the development of the AI industry. Technology went from the first time you saw AI was perception AI. AIs that can recognize cats and words and sounds and speech. Perception AI evolved into generative AI. You can now use words to generate words or words to generate images, words to generate chemicals and proteins. Generative AI. Then the third era, which is the era we're in right now, is AI technology that can reason. The application of that capability is agentic AI. AI that can have agency. It can use tools. It can reason. It can solve problems; essentially a digital robot that sits inside the computer. The next era, the era that we're working on now, is AI that understands the laws of physics, the common sense of the physical world—that if you tip over a bottle, that it would fall. It would understand gravity and inertia and cause and effect and object permanence and occlusion and so on so forth; the things that all of us humans understand—common sense about the physical world. That next generation of physical AI, along with all of the technology that has already been created, could be embodied into a physical form, and that physical form would be robotics. So the era of AI is moving incredibly fast. We're in a gent world today, and we're in the robotics world or physical AI shortly from now.
Jensen, I wish we have so much more time to spend because it's really a privilege to have you here. On behalf of myself, our team, we're really humbled that we're working together to create what the future AI factories would look like. Humane really started by a vision by His Royal Highness to create, to really play in the AI total value chain, building massive capacity data centers. So, we'll go to 1.9 gigawatts by 2030, advancing the AI chips, the cloud models, application solutions, and I want to really thank you. I know it was a long trip for you coming to the US. I am really thankful for you coming and participating in this event, and I am so delighted to be here to help celebrate the grand opening, the beginning of Humane. It is an incredible vision indeed that Saudi Arabia should build the AI infrastructure of your nation so that you could participate and help shape the future of this incredibly transformative technology.
Please welcome Alex Karp, the co-founder and CEO of Palantir. Alex, I've heard you say before that the countries utilizing AI the best right now, its fullest potential, are the US and in the Middle East. So, I wonder if you could expand on that and relate it to what we're seeing here in the kingdom.
Well, I'm delighted to be here. I've been coming here for a long time, and it's a country of very warm, decent, highly competent people, and it's on fire. And you know, I when I got here this time, I sat down with—we hired basically the—our 22-year-old engineers. They look like 16. And I asked them, well, you know, what's going on here? and they were like, "Our counterparties are very strong, and they're very patriotic, which we like. It's very hard to organize things in cultures with no end goal." And so what what you're seeing on the ground—if you're looking at actual value creation in the physical world that can be quantified, i.e., AI that's not a joke—you're you're seeing a receptivity in this region, especially in the kingdom, but the receptivity is on the back of people who have a deep tradition in engineering excellence and quite frankly believe in their own future. And so obviously the great contradistinction here is Europe, where you you know it's like people have given up, and we I really hope that turns around in Europe. But for now, what you're seeing is an openness to new ways of doing things—meritocracy. You know, this—people underestimate—if you want to do engineering—meritocracy, you're much better off here than almost any place in the world, and that ethos and that competence is going to lead to a massive outperformance, and in part because people who don't have it really underestimate what's going to happen here, and so I I I'm very enthusiastic, and I also kind of like the people here, so that helps.
It's a cultural fit for you. I like that jab at Europe as well. What excites you the most about AI right now? A use case, something you're seeing technologically? Ruth, go for it.
I would say AlphaFold. My colleagues Dennis and John Joffer won the Nobel Prize for this in the fall. It is predicting protein structure for all known proteins on the planet. Single biggest contribution to drug discoveries. Demis has already come out and said we expect we'll see an AI drug in front of the FDA in the near term. So the pace of change is extraordinary. What it means for all of us is extraordinary. And I think it's also a model for how audaciously we should all think about the opportunity with AI.
Alex, it's a very unfair revolution, and there are going to be massive winners, and making sure the winners are the good people and the losers aren't. The one thing you would watch out for or be concerned about as we dive into the AI future is what, Alex?
It's very dangerous. And if the dangerous bad people get the upper hand, which is possible because a lot of it, it all looks the same, and some of it's a joke, and some of it's not, and some of it's deadly. We will have a world that is not the one we want. And it it's not inherently good. That's where I basically disagree with most people even on the panel. It it is good in the hands of good people. It's not inherently good. It's a dangerous weapon.
Is it in the hands of good people? Well, it will be. Okay. So, I very much agree with Alex. The phrase we use at Google consistently is it is imperative to be bold and responsible. We must protect from the downside in order to have the right and the opportunity to focus on the upside and deliver. And the only way to address some of the biggest social inequities and to deliver solutions, I think, is with AI. But you got to protect on the downside. The risk if we overregulate is that those who aren't regulated can get ahead. It needs to similarly be a responsible approach to regulation so we're not restraining it too much in order to protect against this downside risk, and I think Alex is very much right—it's something that we need to collectively stay vigilant about.
Secretary, you most of your life were an investor, and in fact, you were known as one of the greatest investors of your generation. You saw a few global trends before other people did, made some big bets. Part of that definitionally means you know how to manage volatile markets. You recently said we should be prepared for some bumpiness as we try to reimagine the US economy. And there are three pillars you have talked about, which is reimagining trade, enacting the tax cuts that President Trump started in 2017, and deregulation. Can you just talk a little bit more about those three?
Yes. And and I I would also say just to reiterate the the strength of the the US-Saudi relationship that my—I believe it was my second or third day at my desk. I went around the world, and my first two calls in the evening was to the finance minister in Tokyo. Then the following morning was to His Excellency. So that shows the the priorities of the US government. This would have been President Trump's first trip abroad if not for the death of the pope. This will be his first state visit. What we are attempting to do in the US is to further create it as the world's premier investment destination, and the Trump economic agenda consists of three parts. Thus far we have seen trade, which has gotten most of the publicity, and President Trump wants to reorder the US engagement with other countries. The tariffs, the non-tariff trade barriers, currency manipulation, and subsidies of labor and capital are coming down quickly. I am optimistic that on trade we could actually see more frictionless trade globally. The second part of the agenda, which is moving better than I would have expected, and as a newcomer to Washington, I would say that it was my highest level of anxiety was the tax bill. The 2017 Tax Cuts and Jobs Act was not passed until December, just before Christmas of President Trump's first year. I believe that we will have it passed this summer, and we will make the 2017 Tax Cuts and Jobs Act permanent. We will add more features that are very friendly to capital. We're going to bring back the 100% expensing. If you build a factory in the US, you can expense it immediately. If you—the equipment for that factory can be expensed in the first year, and we think that that will be very powerful. That was the most powerful aspect of driving growth and jobs during President Trump's first term. So we will no longer be talking about tax cuts once this bill becomes permanent. This will be the law of the land for the US, and there will be great certainty on the tax side. And then in the third side is deregulation, and I think really when I look at the US, the one thing I see is great optimism and a can-do attitude. We've seen it in states. We have a federal system, state to state. We've seen it in states like Texas, which has a very much a can-do attitude. Florida, we're seeing big migrations there. And what President Trump wants to do is make the rest of the United States more like Texas and Florida, where deregulation is down, permitting time is down. But what what's the what's the use of saying we're going to be an AI superpower if the permitting takes 3 years? What's the use of saying we want to expand our energy dominance if you can't get pipelines through? So we are going to deregulate substantially. It is also very good for inflation for the American households because during President Trump's first term, what really generated the non-inflationary growth was there was a demand shock from the tax bill. And from that stimulus, it was met with a supply response from deregulation, and you ended up with very strong non-inflationary growth. I think what happened under the Biden administration was you had a demand shock from government spending, and if we have time we could come back to how we're going to get that down, but it was met with supply constriction, and that's how we got the great inflation of 21, 22, and 23. So we are really setting the stage with the trade, tax, and deregulation for what we think could be a very—will be a very strong period of non-inflationary strong growth.
David, thank you so much for joining us.
Well, thank you for having me. You've just been an incredible host, my friend, and it's been really incredible to see your country. You gave me the most incredible tour of the high-tech sector of Saudi Arabia yesterday, and it's truly impressive what what your country is doing to create opportunities for entrepreneurs. I'd say including and especially women. I was very impressed to meet a number of female entrepreneurs yesterday at the garage at your startup incubator. What a what a what a wonderful introduction.
So David, yesterday, Your Excellency, we had the absolute wonderful opportunity to cement the partnership—more than 90 years of a relationship, a strategic alliance between the US and Saudi Arabia, Saudi Arabia and the US—to move and foster from an energy-based economy. Today we fuel roughly 20% of the global mix. Moving to the digital economy, and you just have recognized our women empowerment in tech—36%. Can we get a big round of applause for the amazing women fueling our digital economy and being named number one, number two consecutively by ITU, the World Bank, the World Economic Forum. Fast forward to the intelligent age yesterday. We showed you how we're leveraging our energy, our capital, our land, captive market to push activation, acceleration, and adoption; the lowest price point for training inference and some of the world-leading examples in generative AI in healthcare—sickle cell disease—agentic AI transforming both the wonderful PIF portfolio and our government efficiency and adoption in—led by Ramco with their metabrain—the corrosion—tell me about your reflections—well, when we were doing the tour yesterday of the start of garage. One of the things that we saw which wasn't I think planned or on the tour is we saw a whiteboard that someone had drawn a diagram for model context protocol or MCP, and I don't know if people here know what MCP is, but it's really catching fire in the world of AI, and it showed that your founders and entrepreneurs are really on the cutting edge of what's happening with AI. MCP is a new standard that allows agents to talk to existing SAS applications or any kind of application, and it's really going to enable this agentic future that I think is the next big wave in AI. So the fact that someone was scribbling that on a whiteboard showed me that—trust me—planted there—orchestrated—that was organic—shows you the depth and the breadth of the technical capacity that we have, led by our youth and women.
Yes. And I could tell that there's a founder who is building an AI agent there who's really on the cutting edge. And I think this is the kind of thing we need to enable and to want to support. The thing that I've learned in Silicon Valley over the past 25 years is that every successful company in Silicon Valley gets to be that way by creating an ecosystem. And the biggest, the most powerful companies in tech are the ones that create the biggest ecosystem. In fact, they do that by creating a standard. They want everyone to build on top of them. They create app stores, things like that. In fact, they're able to build these ecosystems without even having any lawyers involved. There's no need for a contract. You just publish an API, and people will build. And I think in a similar way, the United States needs to encourage the world to build on our tech stack. The first week that I became AISR for president, and the president challenged us, and he tasked us, he said, "We have to win the AI race. The United States has to win the AI race." And every day I think about—win-win—the kingdom. Well, I'm about to get there. And and I I think about how is it that we do that? How do we win the AI race? And the answer is that we have to build the biggest partner ecosystem. We need our friends like the Kingdom of Saudi Arabia and other strategic partners and allies to want to build on our tech. Over the past few years, that's been the opposite of the approach in Washington. The Trump administration just announced that we'd be rescinding what's known as the Biden diffusion rule, which was a rule that came out in January. The Biden diffusion rule came out in in January, and it literally restricted the diffusion or proliferation of American technology all over the world. Now, the original reason for this diffusion rule is that we have a policy of not wanting our advanced semiconductors to go to what are known as countries of concern. But there's only a very, very small number of those countries. And really we're talking about America's central competitors in the world where it was never intended to capture friends, allies, strategic partners. And yet, out of this desire to try and prevent diffusion, what sought to do was create a regime restricting the transfer of data center technology. Now imagine if Washington had created a diffusion rule for the iPhone because it was worried about bad guys somehow getting a hold of iPhones, and every iPhone transaction had to be licensed in Washington. This technology would not have spread all over the world, and the diffusion of iPhones is a very good thing for the United States of America. I think in a similar way, we want our technology to diffuse or to spread. We want people to use it. We want to become the standard. And I think that in Washington that mentality has I think been sorely lacking over the past few years. But we're we're going to bring it back. This is a general-purpose technology, and you can't leave people behind. Folks are going to get these chips away or another. But you need to make sure that there are safeguards and guardrails to make sure that there is no technological diversion. And if I take the kingdom of Saudi Arabia, we've had your mainframe, for example—back then it used to be called the supercomputer—since 1947 in Aramco, and they had protocols on how to protect it—diversion to any specific nation. This is how you create stickiness with your clients, with your partners, how you can create success, and how could you scale up this this trillion-dollar business—soon to be multiple of trillions of dollars. Let me speak to that that risk of of diversion for a second. So you're absolutely right. It's not an issue with a friend like Saudi Arabia at all. But I think that in general, I think that there's a great deal of misunderstanding about the diversion of GPUs. People tend to think that these things are like diamonds that can fit in a briefcase or something like that. That's an antiquated understanding now of the type of technology we're talking about. What we're really talking about here are servers that incorporate GPUs. And in fact, we're talking about server racks. The latest Nvidia product called NVL72 is a server cabinet that contains 72 super chips. It's stacked 8 ft high and weighs 3,600 lb. Okay, this is not something that can be smuggled in a briefcase. And the truth is that you need thousands of these things to create a supercluster that could be a national security threat to the United States. So the policy objective of preventing diversion to countries of concerns is an absolutely important objective of the United States, but it is not a difficult one to achieve. The truth of the matter is that all one would have to do is send someone to a data center and count the server racks to make sure that the chips are still there. We can manage this problem of diversion without stopping the diffusion of American technology.
Well, David, you you've seen it yesterday how US technologies have helped us deliver a passport within 5 minutes. You said to me we're going to see soon see that in other economies as well; how you could renew your license, how you could do all of your different digital services in a cashless society as well—from the digital age and in the intelligent age. We've showed you firsthand how we're creating nanobots with CRISPR technology, leveraging generative AI to tackle sickle cell disease, bad cholesterol, have targeted gene therapy, which is remarkable, reducing the cost to treat a patient from 2.2 million to just sub-$100,000. Think about the remarkable work that we're doing in Agentic AI, helping Aramco energize the world, which we need to fuel the US ambition and Saudi's ambition in AI training and inference because we're going to converge not only to the price point of electronics but it's really the price point of electrons in the kingdom today—in renewable—in the last bit we had a a single cent per kilowatt-hour generation—we continue to push the needle on the lowest price point per million token input and output. We've just released it in DAM, which is quite remarkable, and we're pushing also on physical AI with the first fully robotics heart transplant. So you're seeing it in essence that you're joining hands with a reliable partner that is all about the great good of diffusion and adoption of these technologies for the greater good of the people, planet, and prosperity.
Elon, my dear friend, we're honored to have President Trump. We're honored under the sponsorship and guidance of His Royal Highness to celebrate a US-Saudi and a Saudi-US relationship that is 92 years old—about how we move from an oil-based economy to an innovation-based economy powered by wonderful technologies that definitely you're one of the pioneers in this industry. We just showed to His Royal Highness some of your Optimus robots.
Yeah. And to President Trump. Let's talk about that. Tell me about them.
Uh, yes. Uh, so we just uh showed several of our Tesla Optimus robots to His Highness and President Trump, and I think they were very impressed. Um, in fact, one of our robots did the Trump dance, which I thought was pretty cool.
YMCA.
Yeah. Yeah, to YMCA. Um, so yeah, our robots can dance. They can walk around; they can interact. Um, I think we're we're headed to a radically different world. I think a I think a a good world, an interesting world. Um, my prediction actually for humanoid robots is that ultimately there will be um tens of billions. Um, I I think everyone will want to have their personal robot. You can think of it like uh as though you had your own personal C-3PO or R2-D2, or but even better—then who wouldn't want to have their own personal C-3PO, R2-D2? That would be pretty great. Um, and uh I I also think it it unlocks an immense amount of economic potential because when you're you think about like what is the output of an economy? Yet is productivity per capita times population or capita. The uh once you have humanoid robots, the actual economic output potential is tremendous. Uh, it's it's really unlimited. Um, potentially we could have an economy 10 times the size of the current global economy where uh no one wants for anything. Um, you know, sometimes in AI they talk about universal basic income. I think it's actually going to be universal high income. Um, where anyone can have any goods or services that they want. Um, you know, a science fiction book recommendation that I have, which I think is probably the best envisioning of an AI future, is uh the the the Culture books by Iain Banks. Uh, very highly recommended, um, for a uh non-dystopian view of the future. Um, now there obviously are some risks, you know, um, which illustrate perhaps the—if we don't do this right, you know, you could have like a James Cameron sort of movie, um, you know, Terminator. Um, we don't want that one, um, but uh but having sort of a Star Trek future would be great where we're out there exploring the stars, discovering the nature of the universe, um, and um and a level of prosperity and hopefully happiness that we uh can't quite imagine yet. So I'm I'm very excited about the future and very glad to be here. Thank you for having me.
It's our absolute pleasure. And His Royal Highness was talking to you about his vision and his dream to increase productivity for the Kingdom of Saudi Arabia and power up the region and the whole world with robotics, but also on robotaxis. So how
Are we doing on robo taxis? Uh, yeah. So, really, you can think of a car, or future cars, as being robots on four wheels, and um, you know, I think uh it would be very exciting to have autonomous vehicles here in the kingdom.
Indeed. If you're amenable, you heard it here from Elon. He's bringing his robo taxi to the kingdom.
Yes. Um, he has another announcement that he…
Exactly. So, and I'd also like to thank the kingdom for approving Starlink for maritime and aviation use.
Thank you. Maritime and aviation.
There you go. There you go. Um, so, yeah. Uh, so, so you're going to bring us robots to help us increase our productivity, robo taxis to make sure that our cars and assets turn into a cash-generating unit.
Yeah. And Starlink. Starlink to reform our aviation and maritime.
Yeah, talk about XAI.
Uh, absolutely. And but I want to mention also uh something that may be worth considering is tunnels.
Tunnels. The Boring Company. I have this company called the Boring Company. Uh, which sounds kind of boring, but it's uh it's it literally bores tunnels. Um, and actually uh tunnels in order to solve traffic uh you you really need to go 3D uh with roads and by using tunnels you can essentially create create like like a wormhole like a like a wolf tunnel from one part of a city to another and alleviate traffic and and we've actually already done this proof of concept in Vegas. So there are working tunnels in Vegas, in Las Vegas, that you can use where um that'll just it feels like teleporting from one part of Vegas to another. So, uh, I always say that, you know, my joke is like tunnels are underappreciated, you know. Um, you know, it's a bit of a not always a hit, but um uh so u um yeah, and then XAI uh is uh just trying to solve uh general purpose artificial intelligence. The goal with XAI is to have a maximally truth-seeking AI. Um, and it's it's important to be maximally truth-seeking AI in order to understand the universe.
Mhm. So the the goal of XAI is understand the universe. Um to understand, you know, yeah, what what is out there? Um where's the universe going? Where did it come from? What questions? In fact, I think maybe the biggest thing is what questions do we not know to ask? Like I once you know the question, the answer is usually the easy part. Um so the goal of XAI is to help understand the universe and um yeah that's that's the goal and and you know help people answer any questions along the way of course but um I mean that's that's my philosophy. My philosophy is of one of curiosity just trying to understand the nature of reality.
So I know you had a long day but we also have the honorable president and his royal highness hitting the stage soon. So this is a historic day, a partnership about how we could join hands together as we have joined hands in the past 92 years on building a factor-based economy to help the world and power up 20% of the energy mix which is very critical today to the AI intelligence age, the digital age and how we have reformed and with the intelligent age and we could not be more appreciative of having a lifetime partner and a friend like you Elon to the kingdom joining hands on XAI, I Starlink and Robotics and Tesla.
Thank you so much on behalf of the whole…
Thank you Jim and we look forward to continue the partnership. Thank you. All right. Thanks everyone. Thank you. Thank you. All right.
The days of economic misery under the last administration are rapidly giving way to the greatest economy in the history of the world. We are rocking. The United States is the hottest country with the exception of your country, I have to say.
Right. I won't I'm not going to take that on.
No, Muhammad, I'm not going to take that on. We just reached a historic trade agreement with the United Kingdom and over the weekend we reached a breakthrough agreement with China. Both outstanding deals. China's agreed. We have to get it down and we have to get the little details down. Scott, you're going to work on that very hard. But China's agreed to open up to the United States for trade and everything else. uh but they have to do it. So we'll see what happens. But we had a very very good meeting with both of those countries. We are cutting 10 old regulations for every new regulation. We're getting rid of all of the uh red tape. That is so many frankly countries as they get older they develop a lot of red tape and we're getting rid of it. We're getting rid of it at record levels. And I'm pleased to report that the United States Congress is on the verge of passing the largest tax cut and regulation cut in American history. We think we're in good shape to get that. And if we get that, that will be like a rocket ship for our country. In the first quarter of the year, the investment in America was up an astounding 22%. More than $10 trillion of new investments have been announced or are coming just since the election on November 5th. So think of that in a very short period of time. We have uh over 10 trillion dollars and it could be much higher than that. Not everybody comes to the White House to have a news conference that they're going to be opening up in America, but they're all coming in at numbers that we've never seen before. Uh if you take a look at uh other presidencies, they wouldn't do $1 trillion sometime in years. We did this in essentially two months because uh you have to say we got into office and they gave me about a month to clean up and fix up the Oval Office. And after that, we started working and we uh the money is pouring in, the jobs are pouring in, the companies are pouring into our country like we've never seen before. There's never been anything like it. And uh we let other people tariff us into losing a lot of money and a lot of jobs. And now we're tariffing them. And uh it's uh at a level that nobody's seen. It's a level that uh is making us a very much different country and a very different Republican party. We won a uh tremendous victory in November. We won all seven swing states, the popular vote by millions and millions of votes. The electoral college we won by 312 to 226. Remember they said, "Well, you could get to 270." Now, we got to 312. It's a big difference. And very importantly, we want counties throughout the United States 2,660 to 451. That's why when you look at a map, they're all red. It's all the whole country is red. Red stands for Republican. From the moment on and from the moment we started, we've seen wealth that just poured and is pouring back into America. Apple is investing $500 billion. Nvidia is investing and I see my friend is here. Jensen, that's very good. Wherever you may be, thank you very much. Because he's putting in $500 billion. TSMC is investing. Where is Jensen, by the way? Where is he? He's standing here. Where is he? I just saw Beth. Thank you very much, Jensen. I mean, Tim Cook isn't here, but you are. What a job you've done. He said he's got 99% of the chip market. I don't know. That's a big That's That's not easy to beat, but what a job you've done. Thank you. We are proud to have you in our country. You know that. Thank you for the investment. TSMC is investing 200 billion and with this trip we're adding over $1 trillion more in terms of uh investment and investment into our country and buying our products and you know nobody makes military equipment like us. We have the best military equipment, the best missiles, the best rockets, the best everything. Best submarines by the way, most lethal weapon in the world. In addition to purchases of 142 billion dollars of American-made military equipment by our great Saudi partners, the largest ever. This week there are multi-billion dollar commercial deals with Amazon, Oracle, AMD, they're all here. Uber, Qualcomm, Johnson and Johnson, and many, many more. So, I want to congratulate everybody. So many great business executives. Many of you, most of you, I know this is an explosion of investment and jobs and great companies are coming in. Never seen anything like it. There's no better place to make a future or make a fortune, do anything, frankly, than what we have in the United States of America under a certain president, Donald J. Trump.
I have the right attitude. I have the same attitude that the people in the front row, second row, third row have. as you get back perhaps they start to wayne a little bit in terms of their view but uh they understand and uh we're doing what a lot of smart people would do and we're not necessarily being politically correct what we did yesterday with healthcare we've cut our healthcare by 50 to 90% you're going to see drugs and pharmaceuticals come down at numbers that nobody has ever seen and uh drugs pharmaceuticals we think will be dropping and uh be a redistribution of costs with other nations which really took advantage of a very nice group of people that ran our country but not only is this a time of incredible excitement in the United States it's also an exhilarating period right here in the Arabian Peninsula beautiful place by the way beautiful place exactly he exactly
Eight years ago this month, I stood in this very room and look forward to a future in which the nations of this region would drive the forces of terrorism and extremism. Drive them right out of existence and take your place among the proudest, most prosperous, most successful nations anywhere in the world as leaders of a modern and rising Middle East.
So exciting. So exciting. Muhammad, do you sleep at night? How do you sleep?
Huh? Just think of him. What a job. He tosses and turns like some of us. Tosses and turns all night. How do I make it even better all night? It's the ones that don't toss and turn. They're the ones that will never take you to the promised land, won't they? But you have done some job through. But critics doubted that it was possible what you've done. But over the past 8 years, Saudi Arabia has proved the critics totally wrong. the transformation that has occurred even by these incredible business leaders. I mean you had the biggest leaders in business anywhere in the world standing right before us. But the transformation that has occurred under the leadership of King Salman and Crown Prince Muhammad has been truly extraordinary. Such a thing has I don't think ever happened before. I've never seen anything at that scale happen before. And uh I guess you know maybe you could say the United States is doing pretty well too, you know, but I don't think too many people have seen that happen before. Majestic skyscrapers. The towers that I see the difference between now and 8 years ago and 8 years ago was very impressive. But the towers that I see rising, some of the exhibits that I was shown by Muhammad if uh what I've seen there is just an amazing uh amazing process, amazing genius, but so many people architecture, but I have a feeling now where I know where many of those ideas came from happens to be sitting right in this room right before me. But the towers and the all of the different I've seen a lot of different towers. I didn't think there's any any version of a tower that I haven't seen in one form or another. I just passed four exhibits. I have never seen anything like any of them. So, it's going to be very exciting. And they sit among the ancient wonders of a growing and exciting city. It's really amazing. Riyadh is becoming not just a seat of government but a major business, cultural and high-tech capital of the entire world. The World Cup is here. Johnny stand up, Johnny. Johnny, thank you, Johnny. Great job, Johnny. Great job. But the World Cup and the World Expo will soon be coming here just like the World Cup is coming to the United States. It's going to be really exciting next year. The engines of Formula 1 racing now roar through the streets of Jeddah in a historic milestone. Other industries recently surpassed oil. Think of it. All of your other industries now have surpassed oil. I don't know if a lot of people will understand what that means. It's so big to make up a majority of the Saudi economy for the very first time ever. So think of that other industries are now bigger even than oil, which is always going to be a big monster. It's a big one. But uh that's a great tribute to you and economic development properly used in other cities throughout the peninsula places like Dubai and Abu Dhabi, Doha, Moscat. The transformations have been unbelievably remarkable before our…