digital infrastructure Archives

The Daily Circuit: G42’s India AI drive + Saudi Arabia’s new game studio

In today’s Daily Circuit, we’re reporting on the UAE’s AI startups attracting the most venture capital in the Gulf last year, Mubadala Energy acquiring 15% in Egypt’s Nargis Offshore Area, Saudi Arabia buying the Turkish gaming studio behind “Pixel Flow!” and Abu Dhabi’s record $38.7 billion in property transactions. But first, the UAE and India deepen their AI ties.

Abu Dhabi tech conglomerate G42 will build a massive supercomputer in India in a deal aimed at bringing nation-scale sovereign AI capabilities to Asia’s third-largest economy.

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, the Mohamed bin Zayed University of Artificial Intelligence and India’s Centre for Development of Advanced Computing.

“Sovereign AI infrastructure is becoming essential for national competitiveness,” said G42 India CEO Manu Jain. “This project brings that capability to India at a national scale, enabling local researchers, innovators, and enterprises to become AI-native while maintaining full data sovereignty and security.”

G42 also announced a partnership with U.S.-based governance platform Credo AI to accelerate the adoption of so-called responsible AI across emerging markets. The project will develop risk-monitoring tools, policy design and education programs.

The Summit has seen Indian Prime Minister Narendra Modi holding court with a crowd of global political and tech leaders, including Abu Dhabi Crown Prince Khaled bin Mohamed, French President Emmanuel Macron, Brazilian President Luiz Inacio Lula da Silva, Alphabet CEO Sundar Pichai, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Meta’s Chief AI Officer Alexandr Wang.

Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].

📰 Developing Stories

SCALING UP

Saudi startups attracted the most venture capital in the Gulf last year, raising more than doublethe funding of their Emirati counterparts. Yet in AI, the UAE leads, accounting for 60% of regional AI funding, while Saudi Arabia captured just 29%, according to research from Magnitt. The difference reflects the kingdom’s slower adoption, despite investing in foundational infrastructure. “On a high level, the UAE and KSA have differentiated strategies when it comes to developing their AI ecosystems,” Sam Marchant, founder of Dubai-based VC Forward Pursuit, told Arabian Gulf Business Insights. The gap, however, may narrow as Saudi Arabia ramps up 2.2 gigawatts of AI compute capacity. Meanwhile, the UAE’s earlier infrastructure build-out and rapid adoption has made it easier for entrepreneurs to ideate, validate and scale AI startups in the country.

PIXEL DEAL

Saudi-owned U.S. gaming studio Scopely has made a $1 billion deal to buy Turkish studio Loom Games, the maker of hit mobile puzzle “Pixel Flow!” Loom founders Kübra Gündoğan and Emre Çelik will stay on and continue to run the studio from Turkey, Bloomberg reports. California-based Scopely, which owns mobile titles including “Monopoly Go!” and “Pokémon Go,” is owned by Savvy Games Group, the gaming investment subsidiary of the Public Investment Fund, and is central to the kingdom’s plans to become a video gaming hub. The PIF has moved to consolidate its gaming assets in recent months, most recently transferring its $3 billion stake in Take-Two Interactive to Savvy ahead of the launch of Grand Theft Auto VI under the Rockstar Games label later this year.

💲 Sovereign Circuit

Mubadala: Mubadala Energy acquired 15% in Egypt’s Nargis Offshore Area concession from Eni.

Mubadala: A joint venture between Mubadala and Kimmeridge Energy Management will buy SM Energy Co.’s Galvan Ranch LNG assets in South Texas for $950 million.

Public Investment Fund: ROSHN Group, the real estate developer owned by the PIF, signed a series of land sale and development agreements valued at more than $570 million during the Restated Real Estate Exhibition in Riyadh.

Abu Dhabi Investment Authority: Singapore’s Temasek Holdings and ADIA plan to participate as cornerstone investors in Clean Max Enviro Energy Solutions’ $341 million IPO in India.

↪↩ Closing Circuit

🤝 Strategic Deal: UAE developer Arada plans to bring its recently acquired Australian contracting company Roberts Co. to the UAE to support its projects in the region and the U.K., Arabian Gulf Business Insight reports.

🛰️ Space Deal: San Diego-based Kratos Defense & Security Solutions has been selected by Airbus Defense and Space to provide an integrated ground system for Oman’s first national communications satellite, OmanSat-1.

🏘️ Home Run: The total value of Abu Dhabi real estate transactions hit a record $38.7 billion in 2025, up 44% on annual basis, The National reports.

🏢 Billion Banked: Abu Dhabi’s Aldar Properties issued $1 billion in hybrid notes to Apollo Global Management via private placement.

🗣 Circuit Chatter

✈️ Fighter Jets: The U.K. is intensifying efforts to bring Saudi Arabia into its Global Combat Air Programme alongside Italy and Japan, with senior figures including Prince William and Defense Secretary John Healey lobbying Riyadh.

🧈 Testing Metal: Gold climbed above $5,000 an ounce for a third day amid heightened U.S.-Iran tensions, after President Donald Trump set a 10-15-day window for nuclear talks.

✈️ Plane Delivery: Airbus Middle East revenue more than doubled to $7.8 billion, despite record backlog caused by manufacturing issues.

🏫 Postcode Premium: Proximity to leading international schools is a key reason for price increase in established Dubai villa communities, according to global property advisory firm BlackBrick.

🌍 Power Circuit

UAE President Mohamed bin Zayed was seen breaking his fast with citizens and residents of Abu Dhabi.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met with Anura Kumara Dissanayake, President of Sri Lanka on the sidelines of India’s AI Impact Summit in New Delhi on Thursday. Sheikh Khaled also met withGuy Parmelin, President of Switzerland.

Saudi Crown Prince Mohammed bin Salman received U.S. Senator Lindsey Graham in Riyadh on Thursday.

Sheikh Abdullah bin Zayed, Deputy Prime Minister and Minister of Foreign Affairs, announced that the UAE would provide an additional $1.2 billion in support for Gaza as part of the U.S.-led Board of Peace initiative.

Sheikh Abdullah met with U.S. Secretary of the Treasury Scott Bessent during his visit to Washington on Thursday. He also met with Secretary of State Marco Rubio to discuss ongoing ties.

Sheikh Shakhboot bin Nahyan, UAE Minister of State, took part in a Quad meeting in New York along with representatives from the European Union and the U.K.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defense, and Chairman of The Executive Council of Dubai, attended the signing of the Hussain Sajwani – DAMAC Foundation pledge of AED100 million to support Edge of Life campaign against childhood hunger.

Prince Khalid bin Salman, Saudi Minister of Defense, bestowed on Thursday the King Abdulaziz Medal of Excellent Class upon retired General Michael Kurilla, the former Commander of the U.S. Central Command.

➿ On the Circuit

Omar Al Olama, the UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, participated in a panel titled “The Global Vision for Artificial Intelligence” at the AI Impact Summit in New Delhi.

Dr. Thani Al Zeyoudi, UAE Minister of Foreign Trade, participated in a high-level UAE business delegation to Namibia as part of the UAE Trade and Investment Days.

Khaled Al Shamlan Al Marri, CEO of Real Assets at Mubadala, appeared on the fund’s podcast, sharing insights into what he calls the “risk castle” framework for structuring investments.

Stephan Ribouleau was appointed Regional Sales Manager in the Far East for Oman Air Cargo.

Mazen Adnan Dohaji was appointed Senior Vice President and General Manager for India, the Middle East, Turkey, and Africa at Exabeam

🎶 Culture Circuit

🤡 Sideshow Hustle: One of the U.K.’s most recognized cultural attractions, Brighton Pier, could soon be in Gulf hands, as the owners look east for a potential buyer. With its fairground rides and vintage amusement arcades, the 19th-century pier on the south coast of England is one of the world’s best examples of Victorian-era pleasure piers. A property downturn has raised the attractiveness of British heritage assets for foreign buyers, particularly from Gulf buyers seeking prestige assets. The Brighton Pier Group is aiming to net $24.4 million in a sale.

📷 Photo of the Day

**Alexandra Eala of the Philippines** and Coco Gauff of the U.S. embrace at the net after the quarter-final of the Dubai Duty Free Tennis Championships on Thursday. Gauff cruised to the semifinal tonight after beating the Filipina rising star 6-0, 6-2. (Robert Prange/Getty Images)

📅 Circuit Calendar

March 25-27, Miami. FII Miami 2026. A summit on disruptive technology and investment trends hosted by the Public Investment Fund’s Future Investment Initiative Institute. Faena Hotel, Miami Beach.

March 31-April 2, Dubai. Arab Media Summit. The annual gathering brings together Arab media personnel, influencers and organizations. DWTC.

April 6-13, Dubai. Quantum Innovation Summit. Part of Global Quantum Week, focusing on quantum technology and applications. Grand Hyatt.

April 6-7, Riyadh. Real Estate Supply Chain Forum. Transforming the real estate supply chain landscape. Mandarin Oriental.

April 7-9, Dubai. Middle East Energy. Discover what’s new in energy. Dubai World Trade Centre.

April 7-9, Abu Dhabi. Future Health. Bringing together global leaders in government, science, technology and investment. ADNEC.

April 11-20, Abu Dhabi. Abu Dhabi International Book Fair. Fostering collaboration between regional publishing sectors and creative industries. ADNEC.

April 20-22, Riyadh. Future Aviation Forum. Exploring the future of air transport, sustainability, advanced air mobility, and artificial intelligence. King Abdulaziz International Conference Center.

April 13-16, Riyadh. LEAP 2026. Global tech event covering AI, 5G and startups. RECC Malham.

April 21-23, Dubai. UITP Summit 2026. A high-level event for the public transport sector looking at the future of urban mobility. Dubai World Trade Centre

April 24-26, Abu Dhabi. Middle East Film & Comic Con. Featuring some of the world’s biggest brands in film, TV, sci-fi, animation, manga, comics and collectibles.

April 29-30, Dubai. TOKEN2049 Dubai. A global gathering for the crypto ecosystem. Madinat Jumeirah.

The Daily Circuit: Humain’s xAI deal + DP World sells Jeddah Port stake

In today’s Daily Circuit, we’re reporting on Abu Dhabi’s ADI Foundation’s plans to spread digital infrastructure in developing world, an operator of luxury yacht marinas in the UAE being put up for sale, signs that Riyadh Air is drawing closer to launching commercial passenger flights, and surging oil prices amid uncertainty over U.S. nuclear talks with Iran. But first, Elon Musk further cements his ties with the Public Investment Fund.

Saudi Arabia’s flagship artificial intelligence company Humain invested $3 billion in Elon Musk’s xAI shortly before it was acquired by his space exploration company, SpaceX, as the kingdom competes with its neighbors to become a regional AI powerhouse.

Humain, which is backed by the PIF, announced in November that it would build a 500-megawatt data center with xAI and that Saudi Arabia would roll out the company’s Grok generative AI chatbot.

The investment, which was part of a $20 billion funding round last month, will be converted into SpaceX shares, granting Humain about 0.24% stake in the combined $1.25 billion company, Bloomberg reports.

Formed just last year, Humain has been working to catch up to its Gulf peers as they aggressively pursue AI investments and infrastructure. Abu Dhabi firm MXG, which has put billions into xAI and competitors Anthropic and OpenAI, this week detailed its plans to deploy as much as $10 billion a year to secure a dominant position in the industry.

Meanwhile, ChatGPT owner OpenAI is finalizing investors for a fundraising round that could net as much as $100 billion at an $830 billion valuation, The Information reports. CEO Sam Altman, a regular visitor to the UAE, was seen seated near Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed at the AI Impact Summit in New Delhi on Thursday.

Editor’s Note: Have thoughts or feedback? Hit reply or drop us a note at [email protected].

CIRCUIT INTERVIEW

Abu Dhabi’s ADI spreads digital infrastructure in developing world

ADI Foundation’s Huy Nguyen Trieu in Abu Dhabi

Two years after its launch in the Gulf, Abu Dhabi’s ADI Foundation is stepping into Africa and other emerging markets to introduce digital identity and payments systems that connect developing countries to the networked world economy, writes The Circuit’s Omnia Al Desoukie.

The philanthropic initiative is closely tied to Abu Dhabi’s broader push to expand its influence in financial technology and data infrastructure, an effort spearheaded by Sheikh Tahnoon bin Zayed, Chairman of the International Holding Co., the UAE’s largest publicly traded company.

ADI’s focus is to help countries implement systems that enable citizens to prove their identity online, move money instantly, and access government services. In many emerging markets, those foundations remain patchy or absent.

“If you don’t have digital identity or payments, everything else breaks down,” Huy Nguyen Trieu, a member of ADI’s governing Council and former Citigroup executive, told The Circuit.

Click here to read the full story.

📰 Developing Stories

SHIP SHAPE

One of the largest operators of luxury yacht marinas in the UAE and the Mediterranean appears to be up for sale. CVC Capital Partners has appointed Goldman Sachs to explore the sale of D-Marin and is seeking $1.2 billion, Bloomberg reports. D-Marin, which serves thousands of leisure vessels and super yachts, has a network spanning 26 locations, including five marinas in Dubai: Port De La Mer, Marsa Al Arab, Al Seef, Marasi Bay and Jaddaf Waterfront. Its vast European network includes marinas in Spain, France, Italy, Greece and Turkey. CVC bought D-Marin in 2020 from Turkish company Dogus Group, which has retained operating rights to its marinas in Turkey.

LOUNGE LAUNCH

Riyadh Air has unveiled its premium airport lounge at King Khalid International Airport, as it gears up to launch commercial flights. The launch comes as the airport, one of the biggest and busiest in the Middle East, is overhauling its terminals this week, partly in preparation for increased air traffic from the rollout of Saudi Arabia’s second flag carrier. Terminals 1 and 2 will now handle international flights with Saudi carriers, while foreign airlines will move to Terminal 5. The Hafawa Lounge, developed in collaboration with design studio Yabu Pushelberg, can accommodate about 370 Business Elite and Business Class guests. Riyadh Air, which is owned by the Public Investment Fund, launched cargo operations last month. It has not yet given a date for the start of commercial passenger flights.

💲 Sovereign Circuit

Mumtalakat: Bluefive Capital, backed by the Bahrain sovereign fund, invested $50 million in Origen, an Abu Dhabi-based AI technology company.

Public Investment Fund: The PIF cut the value of its U.S.-listed equity holdings from $19.4 billion to $12.9 billion in Q4 2025, largely reflecting its transfer of $3 billion worth of shares in gaming studio Take-Two Interactive to its subsidiary Savvy Games Group.

Abu Dhabi Investment Authority: Nestlé is reviewing options to scale back its ice cream business, including potentially offering to sell its stake in Froneri, which makes Häagen-Dazs and Mövenpick, to current investors, which include ADIA, Bloomberg reports.

↪↩ Closing Circuit

📦 Dock Deal: APM Terminals, a unit of Maersk, will acquire a 37.5% stake in the South Container Terminal at Jeddah Islamic Port from DP World.

⚡ Energy Loan: The Arab Energy Fund closed a $346 million financing facility for Kuwait Energy Basra Limited, the operator of Block 9 in southern Iraq, enabling the company to continue drilling activities.

⚕️ Pharma Base: German healthcare company Stada will establish a manufacturing facility in Saudi Arabia worth more than $100 million to produce essential medicines for conditions such as heart disease and diabetes.

🗣 Circuit Chatter

🛢️ Oil Surge: Brent prices surged more than 4% after U.S. Vice President JD Vance said Iran failed to address Donald Trump’s nuclear red lines in Oman-mediated talks in Geneva.

💼 Peace Account: JPMorgan is in talks to provide banking services to the U.S. Board of Peace, the Financial Times reports.

🏢 New Bureau: Global risk assessment firm Moody’s is opening a new regional headquarters in Riyadh.

⚙️ Pipe Dream: ArcelorMittal Projects will open its third plant in Sharjah’s Hamriyah Free Zone in 2026, expanding steel pipe and coating capacity.

🌍 Power Circuit

UAE President Sheikh Mohamed bin Zayed held a phone call with Morocco’s King Mohammed VI on Wednesday.

Sheikh Mohamed met with U.S. Republican Senator Lindsey Graham in Abu Dhabi on Wednesday.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, arrived in India on Wednesday to attend the AI Impact Summit in New Delhi. Open AI CEO Sam Altman and Anthropic CEO Dario Amodei were among the business leaders present as Indian Prime Minister Narendra Modi kicked off the summit.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, held a phone call with Yvette Cooper, U.K. Secretary of State for Foreign, Commonwealth and Development Affairs, on Wednesday.

➿ On the Circuit

Jon Gray, President and Chief Operating Officer of Blackstone, posted a video from the UNESCO World Heritage site of Hegra, at AlUla in Saudi Arabia, where he went on a weekend getaway with his wife.

Dr. Thani Al Zeyoudi, UAE Minister of Foreign Trade, met with Hakainde Hichilema, President of Zambia, during his trip to Lusaka.

Alexandra Eala, the Filipina Tennis star, will face American Coco Gauff, the world No 4 player , in the quarter-finals of the Dubai Duty Free Tennis Championships tonight.

🎶 Culture Circuit

🌱 Sustainable Faith: Abu Dhabi has opened its first net-zero mosque in Masdar City, coinciding with the start of the Muslim holy month of Ramadan. Powered by 1,074 square meters of solar panels across its roof and parking shades, the mosque uses 100% green energy. Passive design elements include optimal orientation, shaded arcades, natural ventilation and a large rammed-earth Qibla wall, which helps to regulate indoor temperatures naturally, Gulf News reports. The building also features a greywater recycling system to water the surrounding gardens.

📷 Photo of the Day

**French President Emmanuel Macron** and UAE Crown Prince Sheikh Khaled bin Mohamed met on the sidelines of the AI Impact Summit in New Delhi on Thursday. (Ludovic Marin / AFP via Getty Images)