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Altman in Abu Dhabi: UAE Most Forward-Looking Country in World for AI
AI, tech, startup and business stories from the Arab world. For the driven, the dreamers and the doers
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Tuesday, November 3, 2026
Happy Tuesday everyone!
At ADIPEC 2026 in Abu Dhabi, OpenAI CEO Sam Altman praised the UAE's AI ambitions, while ADNOC signed a landmark agreement with OpenAI and G42 to bring advanced AI into its operations. Energy leaders also discussed the impact of the Strait of Hormuz disruption on global supplies. Meanwhile, Oracle is expanding its data centre footprint in the UAE and Saudi Arabia to meet surging AI demand. Elsewhere, Dubai's Al Habtoor Group has approved the sale of all its Lebanese assets after reporting losses exceeding $1.7 billion.
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ADIPEC 2026 Day 1: Sam Altman, Sultan Al Jaber And Suhail Al Mazrouei On AI And Energy
ADIPEC 2026 opened in Abu Dhabi with major statements on AI and energy security.
Sam Altman – OpenAI CEO
OpenAI CEO Sam Altman praised the UAE as “consistently the most forward-looking country in the world for AI adoption”, saying around 80% of young people in the country use ChatGPT.
Speaking at ADIPEC 2026 in Abu Dhabi, Altman said AI had advanced rapidly and could now outperform the world's best scientists in many areas. He stressed that humans must remain in control, saying there “should not be a handoff to AI” and that the technology must serve people.
He also identified energy as the biggest challenge facing the AI industry as demand continues to grow.
Dr Sultan Al Jaber – ADNOC CEO
Nearly one billion barrels have been drained from global oil inventories following disruptions to shipping through the Strait of Hormuz, Dr Sultan Al Jaber said at ADIPEC 2026.
The UAE Minister of Industry and Advanced Technology and ADNOC CEO called for a rethink of global energy security, saying: “Supply is only half the story. The other half is delivery.”
He highlighted rising shipping and logistics costs and called for greater investment in infrastructure, supply routes and AI-powered energy systems.
Suhail Al Mazrouei – UAE Energy Minister
UAE oil exports surpassed prewar levels at certain points despite disruptions to shipping through the Strait of Hormuz, Energy Minister Suhail Al Mazrouei said.
Speaking at ADIPEC 2026, he credited the country's pipeline infrastructure, shipping fleet and preparedness for helping maintain supplies and fill gaps left by other producers.
He said the UAE had worked to prevent commodity prices from rising sharply, adding that the country had at times supplied more oil to markets facing significant reductions in deliveries.
Meg O'Neill – BP CEO
“If you went back to the start of the conflict, people would have said that oil should have been $150 a barrel by June, and that didn't happen.”
Adnoc First Energy Company to Deploy Open AI Frontier
Before the event started, ADNOC signed an agreement with OpenAI and G42 to become the world's first energy company to deploy OpenAI's Frontier platform. The deal will integrate advanced AI across ADNOC's operations, including investment, commercial decision-making and field management, using GPT models hosted on UAE-based infrastructure. The agreement was witnessed by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, alongside OpenAI CEO Sam Altman at ADIPEC 2026.
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Oracle Expands Data Centre Footprint In UAE And Saudi Arabia Amid AI Boom
What Happened
Oracle is expanding its data centre operations in the UAE and Saudi Arabia, adding several new facilities over the past six months, with more planned in the next six months. Cormac Watters, the company's EMEA applications chief, said rising demand for AI and cloud services is driving the expansion.
Why It Matters
The Middle East is Oracle's fastest-growing market across Europe, the Middle East and Africa. The expansion also reflects growing demand for data sovereignty, with businesses increasingly concerned about where their data is stored and who controls access to it amid regional geopolitical tensions.
What's Next
Oracle plans further data centre expansion in the UAE and Saudi Arabia while exploring opportunities in Qatar, Kuwait and Syria. The company is also seeing growing interest in sovereign cloud solutions that allow infrastructure to be relocated during emergencies while maintaining data sovereignty.
Dubai International Content Market (DICM) returns to Madinat Jumeirah, Dubai
The Dubai International Content Market (DICM) returns to Madinat Jumeirah, Dubai, on 10-11 November 2026, bringing together international distributors, broadcasters, streaming platforms, producers, buyers and industry professionals for two days of business, networking and content discovery.
With 800+ participants from 55+ countries, 80+ global distributors and studios, and 150+ buyers, DICM provides a platform to explore new content, acquire and license titles, develop co-production opportunities and build partnerships across the MENA region and beyond.
Through the Content Business Hub (CBH), participants can preview content, discover catalogues and arrange one-to-one meetings ahead of the market, while DICM Talks brings industry voices together to discuss the trends, challenges and opportunities shaping the content business.
Registration is open. Join us in Dubai to connect with the right people, discover new opportunities and be part of the conversations driving the industry forward. Register now
Al Habtoor Group Moves To Exit Lebanon After $1.7 Billion Losses
What Happened
Dubai-based Al Habtoor Group has approved the sale of all its assets and investments in Lebanon, following its decision to shut down operations in January. The group cited prolonged instability and an investment dispute, saying it had suffered losses exceeding $1.7 billion in the country.
Why It Matters
The decision marks a major retreat by one of the UAE's prominent business groups from Lebanon, where it had invested in hospitality, real estate, retail, leisure and banking-related activities since 2001. The group has also initiated arbitration proceedings against Lebanon in the US under a bilateral investment treaty.
What's Next
Al Habtoor Group will sell its Lebanese assets through a structured process, assessing each investment individually based on market conditions and valuations. The group says it will redirect resources towards markets offering greater stability, investment certainty and sustainable growth opportunities. Further details of the divestment process will be announced later.
👨💻From Smashi Business’ Desk
Qatar Investment Authority (QIA) CEO Mohammed Saif Al-Sowaidi has publicly addressed the sovereign wealth fund’s participation in the $110 billion Skydance-Paramount-Warner Bros. Discovery deal for the first time.
Egyptian-American creator Kareem, the man behind viral interview series @subwaytakes, has been named one of just 25 winners of the 2026 Instagram Rings Awards.
A $12 chicken sandwich has sparked a debate over wealth and inequality in Lebanon.
An Islamic brokerage founder says Anthropic wouldn’t make the cut on his app.
An Emirati AI company has outperformed Microsoft, ElevenLabs, Google and OpenAI in Arabic speech recognition accuracy.
🔍In other news…
UAE Citizen CZ Says ‘I Don’t Make Threats’ After Musk Trolls Binance Hack
Aston Villa Threatens Legal Action Against Jamie Carragher Over ‘Unacceptable Insults’
Mubadala Ventures Chief Ibrahim Ajami Exits to Launch New AI Fund Noha
Lebanese Dating App Taaruf Reaches 80,000 Monthly Users, Lands $400,000 Shark Tank Offer
UAE Announces New Petrol and Diesel Prices for November 2026
🦄 World of Startups
NoorNation: Egypt-based cleantech startup NoorNation raised $1.05 million in seed funding from Linah Farms, Catalyst Fund and KBW Ventures to expand its solar-powered irrigation and desalination solutions.
Silkhaus: UAE-based short-term rental startup Silkhaus is winding down its holiday-home business in the country, with owner agreements set to end on November 11, 2026.
MNT-Halan: Egyptian fintech MNT-Halan received a $71.2 million capital injection from its parent company, MNT Investments BV, increasing the parent’s stake to 80.47% shortly after the fintech’s $139.5 million IPO.
Alpha Dhabi: UAE-based Alpha Dhabi Holding committed $1 billion to Alpha Wave III, a global investment fund managed by Alpha Wave Global that focuses on high-growth companies, with AI at its core.
Mubadala Capital: UAE-based Mubadala Capital secured a minority equity investment from US asset manager Apollo Global Management, which manages $1.05 trillion in assets, with the investment value undisclosed.
