Company Insights Public Investment Fund (PIF) Finance Latest Public Investment Fund (PIF) DevelopmentsAI Insights Saudi Arabia and the Public Investment Fund (PIF) formed a state-backed artificial intelligence company named Humain just as the US's President Trump arrived in Riyadh. The company aims to develop advanced AI infrastructure including data centres, cloud platforms and large-scale Arabic language models. Crown Prince Mohammed bin Salman will chair this new entity1. The company has partnered with Hyundai Motor Company to establish Hyundai Motor Manufacturing Middle East, with the first vehicles due to launch in the fourth quarter of 2026. PIF holds a 70 percent stake in the new venture and plans to produce 50,000 vehicles annually2. PIF announced multi-billion dollar partnerships with US asset managers Franklin Templeton and Neuberger Berman. Plans involve directing $5 billion into Saudi public and private markets and launching an index mandate focused on Saudi equities3. The company holds a 17 percent stake in Saudi budget airline Flynas, which is seeking SAR4.1 billion in an initial public offering. Flynas aims to finance its growth strategy and plans to list on the main Saudi Exchange market4. Elm Company, a digital services provider controlled by PIF, reported a first-quarter net profit increase of over 40 percent. Elm completed the acquisition of Thiqah Business Service Company last month for SAR3.4 billion5. Public Investment Fund (PIF) Overview Founded by royal decree by King Faisal bin Abdulaziz Al Saud in 1971, Saudi Arabia’s Public Investment Fund (PIF) was established as a mechanism for investment on behalf of the government. In July 2014 the PIF authority was granted permission to fund new companies inside and outside Saudi Arabia, either independently or in cooperation with the public and private sectors. PIF is aligned with the Saudi Arabian government’s Vision 2030 with the aim to diversify the economy and is one of the largest sovereign wealth funds in the world, with total estimated assets of US$930 billion. More than 60 percent of PIF’s investments are within Saudi Arabia, including giga-projects such as Neom, Rua al Madinah, Amaala and Qiddiya, as well as Acwa Power, Maaden, Riyadh Air, Saudi National Bank and Saudi Tadawul. PIF’s international investments include Accor, the Americana group, Blackstone, Jio Platforms, Lucid Motors, the Selfridges Group and Uber. PIF is also increasing its sport portfolio and partnerships, including establishing LIV golf and investing in English football club Newcastle United, as well as snooker, Formula 1, boxing, mixed martial arts, tennis, baseball and even darts. With headquarters in Digital City in Riyadh, PIF also has offices in London, Hong Kong and New York. Public Investment Fund (PIF) News Renewable Energy PIF and Acwa Power to team up for 3GW wind farm Saudi Arabia’s $940 billion Public Investment Fund (PIF) and its affiliate Acwa Power are working on a wind farm project to develop enough electricity to power three small cities, according to reports. The wind power projects, one for 2 gigawatts and the other for 1GW, are part of the 2025 round of the country’s National […] May 23, 2025 Tourism Skills shortage a concern for Saudi’s big-ticket events Saudi Arabia’s tourism and hospitality sector is suffering a skills shortage which it urgently needs to address before hosting some of the world’s biggest events, the CEO of one of the kingdom’s giga-project companies said. Of these events, perhaps the biggest is the 2034 World Cup. But before that lies a host of others as […] May 23, 2025 Finance Franklin Templeton plans Saudi products with $5bn PIF agreement US asset manager Franklin Templeton says it plans to create and introduce financial products in Saudi Arabia that takes advantage of both international investor interest in the largest Arab economy as well as local appetite for global markets. This comes after the company agreed in principle last week with the Public Investment Fund (PIF) to […] May 22, 2025 Manufacturing China’s ROX Motors to produce EVs in Abu Dhabi Chinese luxury EV maker ROX Motor and Dubai-headquartered W Motors will manufacture electric vehicles in Abu Dhabi as Gulf countries step up efforts to attract automotive manufacturing. The ROX 01, a mid-size combustion-electric SUV, will be made at W Motors’ new facility in the capital city, the companies said in a joint statement. No […] May 22, 2025 Aviation Flynas sets IPO price as retail tranche opens next week The retail tranche of Saudi budget airline Flynas’s initial public offering (IPO) will start on May 28 after the institutional tranche was oversubscribed almost 100 times, according to a statement to the Saudi stock exchange. The airline set the IPO price at SAR80 ($21.33) per share – the top end of the range – raising SAR4.1 […] May 22, 2025 Renewable Energy Acwa Power’s $2bn capital top-up approved Saudi Arabia’s market regulator has approved Acwa Power’s capital top-up request to support its global expansion. The agreement will allow the renewables major, which is backed by Saudi Arabia’s $925 billion Public Investment Fund, to increase capital through a rights issue worth SAR7.2 billion ($1.9 billion). The offering price and the number of shares will […] May 21, 2025 Markets Mubadala’s US portfolio hit by GlobalFoundries slump Abu Dhabi sovereign wealth fund Mubadala Investment Co suffered a paper loss of $2.7 billion on its majority stake in US semiconductor maker GlobalFoundries in the first quarter, US regulatory filings show. GlobalFoundries’ stock price has fallen by about half from its March 2022 peak, extending its decline this year. This lowered the value of […] May 20, 2025 Finance PIF set to double European investments with Paris office Saudi Arabia’s Public Investment Fund (PIF) is to open its first subsidiary company office in France as it targets doubling its investment in Europe by 2030. The new office underscores the fund’s aim to foster close collaboration with local partners, top companies and institutional investors in Europe, the fund said in a statement. French President […] May 20, 2025 EXCLUSIVE Giga-projects PIF plans $100bn ‘Project Paradise’ Saudi Arabia’s $925 billion Public Investment Fund is drawing up plans for a $100 billion development in Riyadh, even as it reins in spending across some of its flagship projects, according to sources. The mixed-use project, known internally as “Project Paradise”, is in the early planning stage and is expected to be located southwest of […] May 19, 2025 Analysis Finance The multi-trillion dollar deals agreed on Trump’s trip During his trip to the Gulf region from May 13 to 16, US president Donald Trump visited Saudi Arabia, Qatar and the UAE and announced a series of deals across a number of sectors, which, according to the White House, added up to nearly $2.5 trillion. Artificial intelligence Saudi Arabia’s newly-established AI developer Humain said […] May 19, 2025 Posts navigation 1 2 … 98 Next
Renewable Energy PIF and Acwa Power to team up for 3GW wind farm Saudi Arabia’s $940 billion Public Investment Fund (PIF) and its affiliate Acwa Power are working on a wind farm project to develop enough electricity to power three small cities, according to reports. The wind power projects, one for 2 gigawatts and the other for 1GW, are part of the 2025 round of the country’s National […] May 23, 2025
Tourism Skills shortage a concern for Saudi’s big-ticket events Saudi Arabia’s tourism and hospitality sector is suffering a skills shortage which it urgently needs to address before hosting some of the world’s biggest events, the CEO of one of the kingdom’s giga-project companies said. Of these events, perhaps the biggest is the 2034 World Cup. But before that lies a host of others as […] May 23, 2025
Finance Franklin Templeton plans Saudi products with $5bn PIF agreement US asset manager Franklin Templeton says it plans to create and introduce financial products in Saudi Arabia that takes advantage of both international investor interest in the largest Arab economy as well as local appetite for global markets. This comes after the company agreed in principle last week with the Public Investment Fund (PIF) to […] May 22, 2025
Manufacturing China’s ROX Motors to produce EVs in Abu Dhabi Chinese luxury EV maker ROX Motor and Dubai-headquartered W Motors will manufacture electric vehicles in Abu Dhabi as Gulf countries step up efforts to attract automotive manufacturing. The ROX 01, a mid-size combustion-electric SUV, will be made at W Motors’ new facility in the capital city, the companies said in a joint statement. No […] May 22, 2025
Aviation Flynas sets IPO price as retail tranche opens next week The retail tranche of Saudi budget airline Flynas’s initial public offering (IPO) will start on May 28 after the institutional tranche was oversubscribed almost 100 times, according to a statement to the Saudi stock exchange. The airline set the IPO price at SAR80 ($21.33) per share – the top end of the range – raising SAR4.1 […] May 22, 2025
Renewable Energy Acwa Power’s $2bn capital top-up approved Saudi Arabia’s market regulator has approved Acwa Power’s capital top-up request to support its global expansion. The agreement will allow the renewables major, which is backed by Saudi Arabia’s $925 billion Public Investment Fund, to increase capital through a rights issue worth SAR7.2 billion ($1.9 billion). The offering price and the number of shares will […] May 21, 2025
Markets Mubadala’s US portfolio hit by GlobalFoundries slump Abu Dhabi sovereign wealth fund Mubadala Investment Co suffered a paper loss of $2.7 billion on its majority stake in US semiconductor maker GlobalFoundries in the first quarter, US regulatory filings show. GlobalFoundries’ stock price has fallen by about half from its March 2022 peak, extending its decline this year. This lowered the value of […] May 20, 2025
Finance PIF set to double European investments with Paris office Saudi Arabia’s Public Investment Fund (PIF) is to open its first subsidiary company office in France as it targets doubling its investment in Europe by 2030. The new office underscores the fund’s aim to foster close collaboration with local partners, top companies and institutional investors in Europe, the fund said in a statement. French President […] May 20, 2025
EXCLUSIVE Giga-projects PIF plans $100bn ‘Project Paradise’ Saudi Arabia’s $925 billion Public Investment Fund is drawing up plans for a $100 billion development in Riyadh, even as it reins in spending across some of its flagship projects, according to sources. The mixed-use project, known internally as “Project Paradise”, is in the early planning stage and is expected to be located southwest of […] May 19, 2025
Analysis Finance The multi-trillion dollar deals agreed on Trump’s trip During his trip to the Gulf region from May 13 to 16, US president Donald Trump visited Saudi Arabia, Qatar and the UAE and announced a series of deals across a number of sectors, which, according to the White House, added up to nearly $2.5 trillion. Artificial intelligence Saudi Arabia’s newly-established AI developer Humain said […] May 19, 2025
