Kingdom Holding‑PIF partnership lifts fair value of SpaceX stake to $6.83 billion
- Kingdom Holding said the fair value of its stake in SpaceX reached $6.83 billion.
- The valuation reflects an increase of more than $2.3 billion from the previous carrying value of $4.47 billion.
- Kingdom Holding said it owns more than 42.4 million Class A shares in SpaceX, valued at approximately SAR 25.6 billion based on the share price cited in its disclosure.
- The company described the development as a milestone for its long‑term investment strategy and partnership with the Saudi Public Investment Fund (PIF), which owns a 16.87 percent stake in Kingdom Holding; the announcement sent Kingdom Holding shares up nearly 4 percent.
Asharq Al-Awsat English · 2026-06-15
Edarat Group signs up as Gold Sponsor for VAP Group’s Global AI Show in Riyadh
- The Global AI Show returns to Riyadh on June 29 and 30, and Edarat Group has signed up as a Gold Sponsor.
- The event is partnering with local organisers for this edition, according to the announcement.
The National Law Review · 2026-06-15
WEF names 100 tech pioneers for 2026: AI, Clean Energy and Deep Tech lead the charge
- The World Economic Forum named 100 early-stage companies from 23 countries as its 2026 Technology Pioneers.
- The list spans AI infrastructure, clean energy and deep tech, according to the report.
The Economic Times · 2026-06-15
Oracle warns of critical PeopleSoft vulnerability exploited to breach more than 100 companies
- Oracle warned clients of a serious security flaw in PeopleSoft, software used to manage payroll and HR.
- The company said the vulnerability has been exploited by hackers to breach more than 100 companies.
Al Watan News · 2026-06-15
Saudi Arabia spends SR32 billion on developing digital government services in 2025
- Saudi Arabia invested more than SR31.9 billion during 2025 in communications and information technology services.
- Investments were aimed at advancing government digital services, according to the report.
Saudi Gazette · 2026-06-15
stc and Huawei launch green telco cloud platform to cut energy use and physical infrastructure
- STC Group partnered with Huawei to launch a new cloud-based system intended to deliver telecom services.
- The platform is described as built for long-term efficiency and digital scalability.
Data Center Dynamics · 2026-06-15
Roblox: chat will remain off in the majority of the Middle East until Arabic moderation matures
- PocketGamer.biz reports Roblox will keep chat off in most of the Middle East until Arabic moderation matures.
- Roblox MENAT GM responded to questions on the company’s MENA strategy following a recent MoU analysis.
PocketGamer.biz · 2026-06-15
The world’s internet infrastructure is under threat – who is going to protect it?
- Chatham House says the Iran conflict has highlighted the vulnerability of data centres and seabed cables.
- The piece argues essential internet amenities need an international legal framework.
Chatham House · 2026-06-15