Happy Tuesday Everyone!

LEAP 2025 is in full swing in Riyadh, Saudi Arabia, and Smashi Business is a media partner and on-ground to bring you updates. Today marks the third day of the event, with the summit concluding on Wednesday. We have a wrap up of the deals, MOUs and announcements from the first two days!

Also, Etihad Airways IPO may hit ADX sooner than everyone is expecting, and AI giant G42, Microsoft and Mohamed bin Zayed University of Artificial Intelligence are partnering up for Middle East's First Responsible AI Foundation.

Scroll down for details.

But before that: You can join our Whatsapp channel too to receive updates from the business world.

Etihad Airways May List on ADX as Early as this Month for $1 Billion IPO

📰 What is it about?

• Etihad Airways, owned by ADQ, is preparing to list 20% of its shares on the Abu Dhabi Securities Exchange (ADX) as early as this month.

• The IPO could raise up to $1 billion, valuing the airline at around $5 billion.

• Group CEO Antonoaldo Neves revealed all this in a Sunday Times interview, highlighting that the airline kicked off its IPO roadshow last week.

💡 Why it matters?

• Capital Raising & Growth: Neves emphasized the need to tap into different capital sources for expansion.

• Market Readiness: The IPO was initially planned for 2023 but was delayed due to geopolitical factors and the desire to present 2024 financials.

• Potential Direct Listing Option: While the IPO aims to raise capital, Etihad is also considering a direct listing, which would offer increased liquidity for shareholders.

🔜 What’s next?

• First Airline IPO in Nearly Two Decades: If Etihad lists this month, it will beat Flynas to become the first regional airline to IPO since Kuwait’s Jazeera Airways in 2008.

• Strong UAE IPO Pipeline: Other major IPOs coming in 2025 include Alpha Data ($200M), Dubizzle, Five Holdings, Amanat Holdings, and Advanced Inhalation Ritual.

• Key Advisors in Place: ADQ has appointed Abu Dhabi Commercial Bank, Bank of America, BNP Paribas, and Morgan Stanley as joint bookrunners, with HSBC, FAB, and Citigroup acting as financial advisors.

Markets

G42 & Microsoft Launch Middle East's First Responsible AI Foundation in Partnership with MBZUAI

📰 What is it about?

• G42 and Microsoft have launched the Responsible AI Foundation, the first initiative of its kind in the Middle East, in partnership with the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI).

• The foundation's primary focus is to promote ethical AI governance and best practices across the Middle East and Global South.

💡 Why it matters?

• Ethical AI Development: The foundation will focus on Responsible AI Research and AI Governance, aiming to set global standards for fairness, transparency, accountability, and cultural sensitivity in AI.

• AI for Good Initiatives: Microsoft's AI for Good Lab will expand to Abu Dhabi, further solidifying the UAE’s role as a leader in responsible AI innovation, with a focus on social impact projects across the region.

• Global Collaboration: The initiative is a collaboration of research, policy, and industry leaders to ensure AI is developed and deployed in a way that benefits humanity globally.

🔜 What’s next?

• Leadership Appointments: Dr. Laura Haaber Ihle has been appointed as the foundation’s first key hire to lead its AI governance and ethics programs.

• AI Research Expansion: The foundation will focus on AI safety, bias mitigation, explainability, and developing adaptable governance models for AI deployment across diverse cultures.

• Broader Middle East AI Impact: The AI for Good Lab in Abu Dhabi will leverage AI to tackle social challengesand empower NGOs and government agencies in the region.

🚀 Leap 2025: Saudi Arabia Unveils $14.9B in Tech Investments

Key Announcements?

• $10.9B in investments targeting AI, cloud infrastructure, and startup funding.

• Groq & Aramco Digital ($1.5B) to build the world’s largest AI inference node in Saudi Arabia.

• Salesforce ($500M) to develop a Hyperforce platform for regional clients.

• Databricks ($300M) to roll out PaaS services for developers.

• Tencent Cloud ($150M) to launch the Middle East’s first AI-supported cloud region.

• SambaNova ($140M) to boost AI infrastructure and language models.

• HP & Cisco investing in local AI R&D and cloud data centers.

• KKR & Gulf Data Hub to develop 300 MW data centers.

• Saudi AI startup Allam to integrate its language model with Qualcomm AI Cloud.

• Alibaba Cloud launched its Qwen LLM & AI Empowerment Program in Saudi Arabia.

• Huawei & KAFD ink MoU for smart city tech.

💡 Why it matters?

• Saudi Arabia aims for AI to contribute 12% of GDP by 2030.

• PIF is setting up a $40B AI-focused fund—potentially the world’s largest AI investor.

• The Kingdom’s $100B "Project Transcendence" could supercharge AI development.

🔜 What’s next?

• More AI Investments: Expect further funding announcements, especially from PIF’s $40B AI fund.

• Startup Growth: Saudi-backed AI and cloud startups will likely scale rapidly in the region.

• Regulatory & Talent Push: New policies and talent development programs to support AI ambitions.

🔍In other news…

1. Saudi Arabian Unicorn Tabby Taps HSBC, JPMorgan, Morgan Stanley for IPO.

2. Hind Al Mulla, founder of Home Bakery, a homegrown Emirati business, shares how she started with no business plan.

3. Eagle Hills, led by Mohamed AlAbbar, has restored the iconic 100+ year-old Bristol Hotel in Belgrade as part of the €12B+ Belgrade Waterfront transformation.

4. G42 & AMD to enable AI innovation in France through strategic investments.

5. HRH the Crown Prince of Saudi Arabia and IOC President have met and discussed cooperation to develop Olympic Games in Saudi Arabia, and also worldwide.

6. Ground broken for factory where millions of ‘Saudi-made” laptops will be made by Lenovo.

The Latest from the Smashi Business Studio

👋 Hello, That’s Me - Your Content Buddy

What is Odeum?

Odeum is Augustus Media’s innovative in-house content studio, where creativity meets data-driven insights to produce compelling new media formats. Specializing in connecting brands with communities and culture, Odeum offers a range of services tailored to your needs.

Why Do Brands Need a Content Strategy?

An authentic story is key to connect with audiences on a personal level. That’s why a well-crafted social content strategy helps brands resonate with the internet generation and earn their trust. Odeum excels in modern content creation, offering expertise in social media management and access to fully equipped studios.

How Can You Get Started?

If you’re a brand with a vision, contact us here, and our team will get in touch to help you bring your ideas to life.

Here’s to a productive week ahead! 💪

Were you forwarded this email? Subscribe here