Abu Dhabi Deputy Ruler Sheikh Tahnoon bin Zayed is pushing ahead with deals in the US to meet his emirate’s massive appetite for AI. The new $237 billion financial services holding company Judan, which he helms, is buying a majority stake in Alpha Wave Global, a Miami-based alternative asset manager and investor in Anthropic, OpenAI, and SpaceX.
Judan will take a 50.1% stake in Alpha Wave and help launch its AI-native life insurance business, the firms said. The financial terms of the deal were not disclosed. Judan subsidiary Chimera already partners with Alpha Wave on a tech fund.
Sheikh Tahnoon’s sprawling conglomerate, International Holding Co., created Judan last month, consolidating its banking, insurance, investment, and financial technology interests under one firm. The Alpha Wave acquisition suggests the Gulf’s biggest dealmakers aren’t flinching at opportunities in the US or being slowed by the war in Iran. Last week, Qatar Investment Authority also made a move in the US, buying into clean energy supplier AES.