Sure. They basically created and funded al Qaida in the 1980s to counter the Soviet invasion of Afghanistan. Then bin Laden came back to Saudi Arabia and offered to help against Saddam when he invaded Kuwait, and the Saudis told him to go away. After that they became more enemies than friends, but with the weird twist that the Saudi government wants to appear ideologically relatively aligned with al Qaida, such that al Qaida has little support for overthrowing the house of Saud.