Signs of the widening fiscal gap have been evident for months, with the slowing down of NEOM and shelving of Riyadh's $50 billion Mukaab cube

The shift comes as more than 700 multinationals have already moved regional headquarters to Riyadh, well above earlier target of 500 by 2030

The project, announced on the sidelines of the AI Impact Summit taking place in New Delhi, will be delivered in collaboration with U.S. AI company Cerebras Systems

Yet in AI, the UAE leads, accounting for 60% of regional AI funding, according to research from Magnitt

For IHC, a $238 billion colossus with a portfolio of 1,400 subsidiaries spanning finance, real estate, tech, energy, logistics and healthcare, the payoff is indirect