U.S. power equipment maker GE Vernova (GEV.N) will export gas turbines and energy solutions totaling $14.2 billion to Saudi Arabia, the White House said on Tuesday, as part of a broader $600 billion investment commitment.
GE Vernova's shares were up 3.7% at $432.14 in morning trading after the news.
U.S. President Donald Trump signed a strategic economic agreement with Saudi Arabia on the day as the oil power rolled out the red carpet at the start of his tour of the Gulf states, aimed at drumming up trillions of dollars in investments.
Saudi Arabia was set to invest $600 billion in the United States, including the largest defence sales agreement between the allies, worth nearly $142 billion, the White House said.
GE Vernova became an independent company in April last year following a three-way split of General Electric (GE.N).
