Artificial Intelligence OpenAI holds talks to raise money from PIF ChatGPT maker OpenAI has talked to Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries and existing shareholder MGX of the UAE about its $40 billion financing, The Information reported on Wednesday. The investors could put in at least hundreds of millions of dollars each, the report said, citing people familiar with the issue. OpenAI […] June 12, 2025
Tech Gulf investors help finance growth of Turkish data centres Turkey’s data centre sector is riding a wave of new investment that is likely to support expansion in the country’s digital economy, with much of the funding coming from the Arabian Gulf. Last month, Turkish e-commerce platform Trendyol announced it was partnering with the UAE’s Castle Investments, headed by Gulf Data Hub founder Tarek Al […] June 10, 2025
Artificial Intelligence GlobalFoundries commits $3bn to microchip research GlobalFoundries, the Mubadala-backed chip manufacturer, said on Wednesday it will significantly hike research spending in the US over the next few years due to “explosive” demand for artificial intelligence and the advanced semiconductors that power it. The multi-billion-dollar investment comes as the New York state-based company works with the White House and various technology peers to […] June 5, 2025
Tech Taiwanese chipmaker denies plans for Middle East factory Taiwan Semiconductor Manufacturing Company (TSMC) has no plans to establish a factory in the Middle East, CEO CC Wei has said. Bloomberg reported that the Taiwanese company had held multiple meetings with Steve Witkoff, the US special envoy to the Middle East, and executives from Abu Dhabi’s MGX, regarding the opening of a plant in the […] June 4, 2025
Video length: 04:09 VIDEO Telecoms Veon boss reveals why the telco swapped Europe for Dubai Telecom and digital services company Veon delisted from the Amsterdam stock market last year and moved its operations to Dubai, becoming the largest Nasdaq-listed company with headquarters in the UAE. AGBI spoke to the company’s CEO, Kaan Terzioglu, about its plans to dual-list in Dubai within the next three to five years. “I am bullish […] June 2, 2025
Artificial Intelligence ‘Wins for America’: Nvidia chief hails Gulf deals Nvidia CEO Jensen Huang used a first-quarter earnings call on Wednesday to highlight artificial intelligence infrastructure deals in the UAE and Saudi Arabia, describing them as major US victories at a time when export controls have dented the company’s Chinese sales. Ahead of Nvidia’s Q1 call, the Financial Times reported that Trump had ordered US […] May 30, 2025
