Sponsor News
Tate
Our gold sponsors Tate have kindly invited the GDCA community to attend their Mix & Mingle networking event at DataCloud 2024 in Cannes on June 5th. Find out more about the event details in the artwork
DigitalX
Our Touchdown partners, Kickstart Europe, are hosting a sister event in Belgium on June 10th and 11th. DigitalX is the perfect place to gain valuable insights into the tech and data centre sector, offering the opportunity to meet new faces and network with a host of important industry players. Find out more about DigitalX on the website here
Industry News
Kingdom of Bahrain
Investcorp closes $570Mn ITP Fund
The Kingdom’s alternative asset manager, Investcorp, recently announced the closing of its Investcorp Technology Partners (ITP) fund at $570Mn. This fund invests in software, data analytics, cybersecurity, and fintech globally by taking controlling stakes in companies – some examples include stakes in software company VEDA and cybersecurity platform HWG Sababa…Read more
Saudi Arabia
KSA ICT spending surges 20% to $11Bn
Saudi Arabia is witnessing a 20% y-0-y growth in government spending within the ICT sector, reaching an astonishing $11Bn in Q4 2023. According to recently released reports, Saudia Arabia has seen a significant and sustained increase in spending on cloud computing, AI, and IoT. This commitment to investment reflects the Kingdom’s aspirations to become a globally recognised epicentre for technological innovation, further pushing them towards their Saudi Vision 2030 goals…Read more
China’s Ant International expands into Saudi Arabia
The Ministry of Investment of Saudi Arabia (MISA) has signed an MoU with Singaporean company Ant International. With plans to expand into the Middle East, this new entity in Saudi will act as a gateway, further broadening the reach of its payment and financial services. Ant International offers a payment platform for merchants, digital payments, and financial services for cross-border trade and digital banking. This foray into the Kingdom will significantly increase Ant’s reach and open the door for other Asian investment into KSA…Read more
Qatar
QIA invest in French semiconductor fund
The Qatar Investment Authority has divulged plans to make an anchor investment in Ardian Semiconductor, a new entity established by French firm Ardian. With areas like renewable technology and AI spearheading the Middle East’s digital transformation, the move highlights the Gulf state’s bet on the crucial role of semiconductors in this rapidly expanding market and most notably highlights the QIA’s push into the tech space as part of the broader strategy to diversify Qatar’s economy…Read more