Happy Sunday everyone!

Smashi Business Weekly is back with the hottest stories shaking up the global business scene. This week, Elon Musk’s xAI rockets to a jaw-dropping $200B valuation, raising billions to fuel the AI arms race. Meanwhile, AppCloud, an Israeli-linked app, ignites outrage across MENA over alleged digital spying, putting big tech privacy practices under fire. And in Dubai, property giant Emaar eyes bold global acquisitions after smashing profit records. Here’s everything you need to know and why it matters.

But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.

Markets

xAI Rockets to $200 Billion Valuation

🔹 What Is It About

Elon Musk’s AI startup, xAI, has secured over $10 billion in fresh funding, catapulting its valuation to $200 billion, making it one of the most valuable startups worldwide. The round attracted heavyweight investors, including Valor Capital, the Qatar Investment Authority, and Prince Al Waleed bin Talal’s Kingdom Holding Co. The company is also preparing to raise $3.5 billion in debt to expand its data centers, crucial for training massive AI models.

🔹 Why It Matters

This milestone positions xAI as a direct competitor to OpenAI, Google DeepMind, and Anthropic, intensifying the AI arms race. The scale of funding underscores investor confidence in AI’s transformative power across industries, from autonomous driving to healthcare. For the Middle East, participation by regional sovereign funds like Qatar’s signals growing influence in the global tech ecosystem.

🔹 What’s Next

The debt financing will finalize once equity funding closes. Expect xAI to announce new AI products and infrastructure expansions soon, with more partnerships likely to follow as it scales to challenge existing AI giants.

The Propertic: Smarter Choices For Better Living

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Invest, renovate, and upgrade with confidence. With The Propertic, smarter choices mean better living.

AppCloud Sparks Outrage Over Alleged Israeli Digital Spying

🔹 What Is It About

A growing firestorm across MENA targets AppCloud, an app reportedly developed by Israeli firm IronSource, after cybersecurity experts warned it’s pre-installed on Samsung A- and M-series phones. Mahmoud Abu-Musallam, a Gaza-based cybersecurity engineer, revealed the app collects sensitive data, locations, IP addresses, and device fingerprints without clear user consent. Over 35,000 users have shared warnings, calling it a Trojan horse for surveillance.

🔹 Why It Matters

Activists argue AppCloud reflects Israel’s broader surveillance strategy, citing Netanyahu’s remark: “If you have a mobile phone, you carry a piece of Israel.” Critics say the app poses a serious regional privacy and national security risk, particularly in Gaza and underserved MENA regions reliant on Samsung devices. This controversy also highlights a wider backlash against big tech, as Google, Microsoft, and YouTube face global criticism over data practices and privacy violations.

🔹 What’s Next

Privacy advocates are urging MENA governments and global tech companies to tighten digital security and resist Israeli-linked infiltration. Expect calls for stricter regulations on pre-installed apps and renewed scrutiny on big tech’s data collection policies worldwide.

Emaar Eyes Global Expansion After Record Profits

🔹 What Is It About

Dubai’s leading property developer Emaar is eyeing major acquisitions in the US, India, and China. With surging property prices at home and minimal debt, founder Mohamed Alabbar confirmed the board is debating a “serious global strategy” to drastically expand beyond Dubai. The company’s profits jumped 25% in 2024 and 34% in the first half of 2025, fueled by a 67% rise in Dubai’s property prices since 2019.

🔹 Why It Matters

Emaar, the developer behind Burj Khalifa, is one of the Middle East’s most influential real estate players. Its overseas push signals growing confidence in global property markets and highlights Dubai’s maturity as a real estate hub. India, where Emaar already owns 122 million sq ft of land, could serve as a key testing ground for its expansion strategy.

🔹 What’s Next

Emaar is considering partnerships or majority stakes in established developers abroad. Discussions with India’s Adani Group are ongoing, and Alabbar insists Emaar is not selling its Indian operations. Expect announcements on acquisitions or joint ventures as Emaar accelerates its international growth story.

👨‍💻From Smashi Business’ Desk

• Dreamers: Shakour Abu Ghazalah, once left with nothing after a bank collapse, turned resilience into Albaik—the Middle East’s fast-food giant.

• AppCloud Uproar: Activists Decry Israeli Digital Spying Amid Intensifying Big Tech Backlash.

• Abu Dhabi Emerges as Global Hub for AI-Powered Financial Crime Prevention with Themis Launch.

🔍In other news…

• Saudi non-oil trade surplus with GCC doubles.

• Dubai launches ‘Rashid Villages’ to carry forward late Sheikh Rashid’s humanitarian legacy.

• Flydubai expands Romania network with new Iași flights and more Bucharest services.

• Sheikh Hamdan appoints new CEO of Dubai’s Real Estate Regulatory Agency.

• Kuwait aims to close bidding for $1.3bn oil projects.

• UAE President arrives in Georgia on official visit.

• Abu Dhabi conducts drone delivery test flight in collaboration with LODD Autonomous.

🏦 Crypto Corner

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accept AE Coin.

We are launching a Smashi Crypto newsletter in September 2025! Subscribe to it here to get the weekly updates from the world of digital assets.

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