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- Bezos Seeks $10B for AI; UK Payrolls Drop 11,000; DP World in Gaza Rebuild Talks
Bezos Seeks $10B for AI; UK Payrolls Drop 11,000; DP World in Gaza Rebuild Talks
Wednesday, April 22, 2026
Happy Wednesday everyone!
Jeff Bezos is finalizing a $10 billion funding round for Project Prometheus, an industrial AI venture valued at $38 billion with backing from BlackRock and JPMorgan Chase. This technological push contrasts with a cooling UK labor market, where payrolls fell by 11,000 in March as the ongoing Iran conflict begins to weigh on Western hiring and vacancies. Meanwhile, President Trump’s "Board of Peace" has opened discussions with Dubai’s DP World to manage logistics and infrastructure for a projected $70 billion rehabilitation of Gaza, potentially including a new port and free-trade zone.
In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.
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Bezos Targets $10 Billion to Automate the Physical World
What Is It About?
Jeff Bezos is closing in on a $10 billion funding round for Project Prometheus, a venture aimed at building AI that understands engineering and manufacturing. The goal is to create a system that can speed up complex physical processes. Separately, Bezos is exploring a $100 billion fund to buy industrial companies where this AI can be put to work, creating a loop where his own businesses provide the data to train the software.
Why It Matters?
This isn't just another software play; it’s an attempt to link massive capital with real-world production. By owning both the AI and the factories, Bezos could bypass the slow adoption rates that usually plague industrial tech. The quiet involvement of Middle Eastern wealth funds suggests the region is looking to anchor its own manufacturing future to these advanced systems.
What’s Next?
Watch for a formal announcement on the $100 billion acquisition fund. If Bezos starts buying up traditional manufacturers, it will signal a major shift in how the private equity and tech worlds view the "boring" industrial sector.
UK Job Cuts Surge as Regional Conflict Hits Home
What Is It About?
UK businesses cut 11,000 jobs in March, nearly doubling the losses from the previous month. This drop happened right as the conflict in the Gulf entered its seventh week, piling pressure on a British labor market already struggling with higher taxes. Vacancies have now hit a near five-year low, and the IMF warns that unemployment in Britain could climb to 5.6%.
Why It Matters?
The data proves that a crisis once framed as a local Gulf issue is now dragging down Western economies. Dubai’s status as a safe haven has been questioned by major news outlets after recent attacks, and that uncertainty is circling back to London. Hiring has cooled as companies wait to see if energy prices and trade routes will stabilize or worsen.
What’s Next?
The Bank of England is watching 3.3% inflation forecasts closely. If prices keep rising because of war-driven supply chain issues, the bank might hike rates again, which would likely lead to even deeper payroll cuts through the summer.
DP World in Talks to Manage Gaza’s $70 Billion Rebuild
What Is It About?
Representatives from President Trump’s "Board of Peace" have met with DP World to discuss managing the massive rebuilding of Gaza. Estimates suggest it will cost $70 billion to repair the damage, and the talks centered on the Dubai firm running everything from warehousing and tracking systems to humanitarian aid logistics. Ideas even include a new port and a free-trade zone to help restart the local economy.
Why It Matters?
DP World has the experience to handle complex global trade, but Gaza is a unique challenge where four-fifths of the buildings are destroyed. A partnership with the U.S. government would give the project the political weight needed to move goods into a high-security zone. It also positions the UAE as the lead architect of regional recovery, using its logistics expertise to fill a massive infrastructure void.
What’s Next?
Neither the White House nor DP World has confirmed a formal deal yet. The next step is a detailed master plan for security and tracking, as any investment will depend on whether goods can move in and out without being diverted or caught in renewed fighting.
👨💻From Smashi Business’ Desk
US billionaire Bill Ackman has launched a €55bn bid to take Universal Music Group private
Dubai-based Independent Food Company is hiring across roles including marketing, content and hospitality.
In a striking move that defies industry trends, Alsayegh Worldwide has made a bold commitment to its workforce. Leadership vows there will be no salary reductions and no job losses through 2026.
Saudi Research & Media Group (SRMG) is rewriting the rules of media in MENA.
Semafor is doubling down on the Gulf. The Semafor is expanding to a five-day publishing schedule, scaling hiring, and growing its events business as global attention on the region surges.
Telegram founder and UAE citizen Pavel Durov said Iran’s ban on the platform has led to widespread VPN usage rather than adoption of state-backed messaging apps.
🔍In other news…
🦄 World of Startups
Egypt’s Lucky Raises USD 23M Series B. Its Consumer Credit Model is Expanding Into North Africa
“We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC
Via Separations, US-based deeptech startup, raised $36M in funding from Aramco Ventures (Saudi), and other global investors.
