UAE
Mubadala unit sells du stake for $858Mn
Mamoura Diversified Global Holding, a subsidiary of Abu Dhabi’s Mubadala Investment Company, has sold a 7.55% stake in UAE telecoms firm du for AED 3.15Bn ($858Mn) through a secondary share sale. The transaction involved 342 million shares priced at AED 9.20 each, marking the midpoint of the marketed range. This move is part of a broader trend of secondary offerings across the Gulf region, as state-backed entities leverage strong investor interest following a surge in IPO activity…Read more
Oman
Oman unveils $250Mn AI special economic zone
Oman is launching the Gulf’s first special economic zone dedicated to AI, backed by a $250Mn investment aimed at supporting tech startups. Located in Muscat’s Seeb area, the 100,000 sq.m zone is a joint venture between Egypt’s Prime Group and local firm Afouq, with oversight from Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ) and technical support from the Ministry of Transport, Communications and Information Technology. The zone will serve startups across the GCC, offering investment opportunities, financing access, and product marketing support. This initiative complements Oman’s broader push to boost entrepreneurship, including a new $5.2Bn startup lending program launched by Future Fund Oman…Read more
Oman and IDCA to Launch World’s First Digital Triangle
Oman has signed a landmark agreement with the International Data Center Authority (IDCA) to accelerate the development of its digital economy and launch the world-first Oman Digital Triangle (ODT). This initiative will establish three interconnected digital hubs and AI super-clusters across the country, creating gigawatt-scale data centre capacity, robust connectivity, and a skilled workforce to support next-generation technologies. As part of the agreement, IDCA will oversee the creation of a National Digital Infrastructure Roadmap, standards, and education frameworks. Positioned as a stable and strategically located hub, Oman aims to become a global leader in AI and cloud infrastructure, offering vast opportunities for international investors and technology providers…Read more
Saudi Arabia
PIF eyes $3Tn target with leaner growth model
Saudi Arabia’s Public Investment Fund (PIF) is set to unveil a long-term strategy within the next two months, charting its path through 2040 and beyond. With ambitions to become the world’s largest sovereign wealth fund, potentially reaching $3Tn by 2030, PIF is pivoting from mega-projects toward more commercially viable investments in sectors like tourism, finance, manufacturing, and artificial intelligence. AI, in particular, is emerging as a key focus, viewed as less capital-intensive and more globally attractive. As part of its international push, PIF reaffirmed a $600Bn investment commitment to the United States and plans to open new offices across Africa and the Middle East, following its recent expansion into Paris. The fund’s evolving strategy reflects a broader shift toward public-private partnerships, privatisation, and increased foreign investor participation, key to driving sustainable growth in Saudi Arabia’s post-oil economy…Read more
Interesting News
United Kingdom
US-UK Partnership Accelerates AI Infrastructure with Billions in Investments
The UK and US have launched a landmark tech partnership, the US-UK Tech Prosperity Deal, designed to boost the UK’s digital infrastructure and drive advancements in AI, quantum technologies, life sciences, defence, and space. A major highlight is the establishment of a second AI Growth Zone in the northeast of England, centred around Blyth and Cobalt Park near Newcastle, which is set to become one of Europe’s largest data centre hubs with significant incentives and expedited power access. This announcement comes alongside a wave of major data centre investments this week, including a £5Bn ($6.9Bn) deal from Google, a $678Mn venture by BlackRock, a new Vantage facility, and OpenAI’s Stargate UK project. CoreWeave is investing £1.5Bn ($2Bn) in UK AI data centre capacity and operations, while Microsoft has pledged an additional $15Bn over the next three years for AI infrastructure, including building the UK’s most powerful supercomputer. The partnership also supports civil nuclear projects to meet rising energy demands and advance fusion energy research. UK Prime Minister Keir Starmer described the deal as a “generational step change” that will create highly skilled jobs and drive economic growth across the country. Tech leaders, including Nvidia’s CEO, hailed the initiative as pivotal in positioning the UK at the forefront of the AI revolution, unlocking innovation and new opportunities for local communities through training and apprenticeships…Read more