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🟡 Semafor Gulf: Insatiable AI
In today’s edition: Abu Dhabi fund commits to US power projects, AIQ plans to license oilfield AI tools, and Riyadh’s office space is booming
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Abu Dhabi’s AI-for-energy firm eyes global expansion
AIQ plans to sell AI tools that improve drilling efficiency to other oil producing countries.
ADNOC headquarters. Christopher Pike/Reuters
Appetite for costly drone shows is growing in the UAE
An average show in the region costs about $112,250, much more expensive than an old-fashioned fireworks display, and has 401 drones.
Courtesy of dronexshow.com
Abu Dhabi partners in $25B US AI fund
The deal, signed during UAE National Security Advisor Sheikh Tahnoon bin Zayed’s visit to Washington, is another sign of the Emirates’ relentless push for investment in AI.
Emirates News Agency
US, UAE deepen AI partnership
Sheikh Tahnoon bin Zayed’s visit to Washington this week signaled that the UAE’s growing focus on AI is taking diplomatic priority over fraught geopolitical issues.
Emirates News Agency
Qatar’s PM speaks on the nursing homes nobody will use
Sheikh Mohammed bin Abdulrahman Al Thani sat down with Tucker Carlson as the American host brings more high-profile guests from the Gulf to his podcast.
TuckerCarlson/YouTube
Kuwait strips tens of thousands of citizens of nationality
The government says the process targets those who have obtained the nationality illegally, but human rights groups say it’s a sign the country is moving toward autocracy.
Zairon/Wikimedia Commons. CC-BY-4.0
UAE’s Sheikh Tahnoon visits Trump as countries seek to deepen ties
The Emirates’ National Security Adviser is also meeting tech industry leaders in Washington this week for discussions centered on national security.
Emirati leader to meet Musk, Bezos
The UAE’s powerful national security adviser, Sheikh Tahnoon bin Zayed, will meet top US business leaders this week in Washington, DC, a person familiar with the planning told Semafor.
Gulf soccer clubs slash spending as they focus on younger talent
Soccer teams in the Gulf cut transfer spending by nearly half in 2024 compared to the previous year, prioritizing younger talent instead of aging superstars.
Saudi pours billions into Diriyah as megaproject nears completion
Fresh financing, Armani-branded residences, and a new tech district are the latest for PIF-backed Diriyah Co.
How a delivery boom in Riyadh is reshaping the Saudi capital
The surge in e-commerce, food delivery, and parcel services is boosting profits for logistics firms, but external costs and housing needs for workers are rising.
Standard Chartered targets UAE’s affluent class
The bank opened a dedicated facility in Dubai, catering to affluent clients seeking global investment opportunities.
The UAE’s $2 billion bet on a pro-crypto Trump
The investment by Abu Dhabi’s MGX in Binance this week anticipates greater institutional adoption of blockchain and cryptocurrencies.
Local film Hobal revives excitement for moviegoing in Saudi Arabia
The new drama is a boon for the kingdom’s box office sales, which have been falling since a 2022 peak after the ban on cinemas was lifted in 2018.
Riyadh emerges as Middle East’s fastest-growing market for data centers
The Saudi capital plans to grow its capacity at almost double the rate of Dubai and Abu Dhabi through 2027, according to real estate services firm JLL.
Iraq accelerates import plans for liquefied natural gas
The country joins a growing list of nations turning to gas imports for long-term energy needs with its plan for a permanent offshore LNG terminal.
Aramco, ADNOC CEOs call for ‘energy realism’ in Houston
At the CERAWeek summit, executives and US officials advocated for investing in all energy sources to meet growing demand.
Saudi Arabia plans record-breaking new skyscrapers
Plans for the world’s tallest building, Jeddah Tower, have resumed after a seven-year hiatus, with the completion set for 2028.
