Abu Dhabi's MGX Closes $49B AI Fund, Exceeding Target
- Abu Dhabi's state-owned AI investment firm MGX has closed what may be the world's largest AI fund to date.
- The firm announced MGX Fund 1, according to the report.
MIT Sloan Management Review Middle East · 2026-07-02
Zain Saudi operates first commercial fixed wireless Full Duplex link at up to 50 Gbps
- Zain Saudi announced operation of the first commercial fixed wireless Full Duplex link in the Kingdom on E-Band.
- The link has a transfer capacity of up to 50 Gbps, according to the announcement.
صحيفة سبق الإلكترونية · 2026-07-02
VAP Group unveils VAP Ventures to back 100 startups by 2030
- VAP Group announced the launch of VAP Ventures, its dedicated investment arm.
- VAP Ventures aims to back 100 startups by 2030, according to the announcement.
TradingView (Zawya/Reuters) · 2026-07-02
Nvidia Rival Etched Steps Out of Stealth With $5B Valuation
- The startup believes today's AI chips are held back by memory and networking bottlenecks.
- The company has built two technologies to address those bottlenecks, according to the report.
MIT Sloan Management Review Middle East · 2026-07-02
Inception42 launches Arabic AI model with Microsoft
- Inception42 has launched Seraj, a new enterprise AI model developed with Microsoft.
- Seraj is intended to strengthen Arabic-language capabilities for enterprise AI, according to the article.
Gulf Business · 2026-07-02
More than 1 billion people now use AI chatbots every week as experts warn of growing risks
- A UN AI governance report says artificial intelligence offers major benefits but requires stronger international oversight as adoption grows.
- The article states more than 1 billion people now use AI chatbots every week.
Economy Middle East · 2026-07-02
Letsia to invest $13.32m in its planned data center in Riyadh, Saudi Arabia
- UAE tech conglomerate Letsia confirmed it will back a new data center and enterprise cloud project in Riyadh.
- The article cites investment figures including SAR50 million and the $13.32m amount in the headline.
Data Center Dynamics · 2026-07-02