abu dhabi

Elon Musk, the CEO of Tesla Inc. (NASDAQ:TSLA) and SpaceX, reportedly lobbied the Trump administration to include his AI startup, xAI, in a deal with Sam Altman‘s OpenAI to build a massive AI data center in Abu Dhabi. What Happened: Musk reportedly used his influence to ensure that his...

Media and theme park giant Walt Disney Co (NYSE:DIS) is headed to Abu Dhabi, United Arab Emirates, with a new theme park coming. The new theme park resort set for Yas Island will be the seventh major theme park under the Disney name. Here's a look back at Disney's past theme park openings and how...

Archer Aviation Inc. (NYSE:ACHR) shares are trading higher in the on Friday. The company entered a groundbreaking multiparty collaboration agreement with key UAE and Abu Dhabi entities to advance electric vertical takeoff and landing (eVTOL) air taxi operations in Abu Dhabi. What Happened: The...

Sphere Entertainment Co. (NYSE:SPHR) is building a new venue in Abu Dhabi, the capital of the United Arab Emirates.  The Details: The Sphere venue in Abu Dhabi would be the second in the world after the Sphere's Las Vegas location opened in 2023. Abu Dhabi's Sphere will echo the scale of the 20,...

Stake, a Dubai-based digital platform for real estate investment, has successfully raised $14 million in its Series A funding round. The investment was led by Saudi Aramco‘s venture capital arm and Abu Dhabi’s sovereign wealth fund, Mubadala Investment Co. Why It Matters: The Series A...

A newly established investment firm in Abu Dhabi is reportedly in discussions to back OpenAI‘s chip ambitions. What Happened: A new Abu Dhabi investment firm, MGX, is reportedly negotiating to invest in OpenAI’s ambitious semiconductor project, the Financial Times reported on Thursday...

The World Trade Organization (WTO) is holding a crucial meeting in Abu Dhabi, where ministers from nearly every country are aiming to set new global commerce rules. However, the WTO’s chief has cautioned against overly ambitious expectations. What Happened: The WTO’s biennial meeting,...

In a strategic move to expand its private credit business in Asia, Goldman Sachs Group Inc (NYSE:GS) has secured a $1 billion deal with Mubadala Investment Co., a sovereign wealth fund based in Abu Dhabi. What Happened: The $1 billion deal will enable Goldman to pursue private credit deals in the...

Crypto exchange Coinbase Global Inc. (NASDAQ: COIN) on Tuesday announced the launch of Project Diamond, a new smart contract-powered platform aimed at institutions, designed to facilitate the creation, purchase and sale of digitally native assets. The first transaction on...

After Singapore, Paxos received approvals to issue stablecoins in the Abu Dhabi Global Market (ADGM). What Happened: The regulated blockchain and tokenization infrastructure platform was granted in-principle approvals (IPAs) by the Financial Services Regulatory Authority (FSRA) in the ADGM. It has...

This week, Binance and its CEO, Changpeng Zhao, acknowledged breaches of anti-money laundering and U.S. sanctions laws. As part of a settlement with the Justice and Treasury Departments and the Commodity Futures Trading Commission, Zhao will step down as CEO, contributing $50 million to the...

Expanding its early 2023 collaboration with Abu Dhabi-based AI company G42, Microsoft Corp (NASDAQ: MSFT) has taken the next step with a plan that would include sovereign cloud offerings and co-innovate and generate advanced AI capabilities leading to the expansion of existing data center...

Christian Borel, senior executive officer at SEBA Bank MENA, highlighted the stark differences in regulatory approaches between the United Arab Emirates (UAE) and the U.S. towards the burgeoning crypto industry. "What the United Arab Emirates (UAE) has built is unique: an efficient, solid...

Cryptocurrency exchange Rain achieved a significant milestone on July 25 when it upgraded its provisional approval from the UAE's Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA) to a full Financial Services Permission (FSP).  This move builds on the Bahrain-...

A milestone in psychedelics education was achieved: The Energia Foundation, organizer of the same conversation within this January’s WEF-parallel Davos House of Health, is taking education on the new therapeutics to the Arab world.  Held in partnership with Tabula Rasa Ventures,...