Kelsey Warner

Abu Dhabi's MGX backed Anthropic's $65 billion fundraise , further strengthening its position in the Claude developer.

UAE telecoms giant e& has agreed to sell 12.5% of Careem Technologies back to Uber for $100 million, reducing its majority holding to 37.5% as it retreats from its super app ambitions.

The joint venture of MGX, state-owned investment bank Bpifrance, chipmaker Nvidia, and France's AI champion Mistral announced their Campus AI expansion on the sidelines of a Paris investment summit, with plans to build 3 gigawatts of compute capacity nationwide , bringing the total investment to €7.5 billion ($8.7 billion).

The News Khaldoon Al Mubarak, one of Abu Dhabi's top money men, visited Washington last week, touting progress one year into the UAE's decade-long, $1.4 trillion investment commitment to the US.

The number of UAE companies planning to cut their staff numbers has more than tripled to 25%, up from just 7% three months ago, according to a survey from US recruiting firm ManpowerGroup.

Organizers feared a subdued annual gathering for Abu Dhabi's seven-year-old entrepreneurial center Hub71; the vibe at the event this week was anything but. There were hundreds of attendees — entrepreneurs, investors, academics, and corporates — noshing on handouts of poke bowls and mango popsicles, with one founder wearing a T-shirt indicating he was fundraising and also “accepting free shawarma.”

— in Abu Dhabi, an indicator that Wall Street firms are still betting on the UAE capital despite uncertainty over the Iran war. The firm, which manages $315 billion in assets, joins an increasingly crowded field at the city's financial hub ADGM, which includes Bain Capital, Barings, BlackRock, Man Group, and Vista Equity Partners. They have been drawn in by proximity to sovereign wealth funds like ADIA and Mubadala, a growing number of family offices, and the region's expanding appetite for private credit.

The Scoop OpenAI CEO Sam Altman was expected to visit Abu Dhabi this weekend but called it off, according to a person with direct knowledge

Add Fazza to the list of millennials looking to live forever — Dubai Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum has been tapped to lead the new Dubai Longevity Authority.

In the past year, Dubai Multi Commodities Centre has developed new hubs for traders in cacao, meat and protein, honey, and saffron, in a push beyond its historical dominance in gold and diamonds. The free zone, which hosts nearly 27,000 companies and accounts for 7% of the emirate's GDP, is now “going to get very aggressive,” Ahmed Bin Sulayem, executive chairman and CEO of DMCC, told Semafor in an interview, adding that the moves would present opportunities to deepen ties with Africa, India, and Sri Lanka.