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HUMAIN-Microsoft Forge AI Alliance; Mubadala Joins $250M Minerals Fund; Iran Levies Hormuz Transit Fees
Thursday, March 26, 2026
Happy Thursday everyone!
Saudi Arabia’s HUMAIN CEO Tareq Amin met Microsoft’s Satya Nadella to integrate Copilot with HUMAIN ONE, a move aimed at pivoting the Kingdom’s $300 billion AI sector toward autonomous enterprise execution. Simultaneously, Mubadala joined a US-led consortium alongside SoftBank to secure critical mineral supply chains under the Pax Silica initiative, backed by a $250 million US commitment. However, geopolitical tensions have intensified as Iran began imposing ad-hoc $2 million transit fees on ships in the Strait of Hormuz, prompting Saudi Aramco CEO Amin Nasser to cancel his CERAWeek appearance to remain in the region.
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.
Markets
EGX30 | 47,497.91 | 1.21% |
DFMGI | 5,383.02 | Closed |
ADX | 9,778.26 | 2.67% |
Tadawul | 11,079.93 | 1.19% |
Saudi Arabia and Microsoft Forge AI Agent Alliance as FII Miami Opens Amidst Regional Market Volatility
What Is It About?
The partnership centers on merging Microsoft’s productivity suite with HUMAIN’s agentic AI to automate complex, multi-step business workflows. HUMAIN, launched in 2025 by the PIF, is already backed by 18,000 Nvidia chips and multibillion-dollar cloud commitments from Google and AWS, positioning it as the primary engine for Vision 2030’s full-stack AI ecosystem.
Why it Matters?
This isn't just a software update; it’s a bid for AI sovereignty. By embedding US technology into a Saudi-led platform, the Kingdom is attempting to shield its tech ambitions from the "tanking" sentiment currently hitting regional equities. If successful, HUMAIN ONE could redefine the global enterprise standard, moving beyond chatbots to AI that "actually does the work."
What’s Next?
All eyes are on the Future Investment Initiative (FII) in Miami, which opened today. Analysts are watching to see if global capital will follow Microsoft’s lead or if the mounting war-risk premiums in the Gulf will stall the massive hardware and infrastructure deployments required to scale agent-driven AI across the Middle East.
Binance Scores Second US Legal Victory in Anti-Terrorism Act Case
Binance, the world’s largest cryptocurrency exchange, has secured a second major U.S. legal win in just two weeks, after a federal court in Alabama dismissed all claims against the company under the Anti-Terrorism Act. The court criticized the plaintiffs’ complaint as a “shotgun pleading,” citing its failure to clearly outline allegations or distinguish individual liability, and granted the plaintiffs until April 10, 2026, to amend the filing or risk dismissal.
This follows a similar victory in New York, reinforcing Binance’s defense against allegations of supporting terrorism. General Counsel Eleanor Hughes emphasized that the rulings reflect the need for legal rigour and evidence, and reiterated Binance’s commitment to compliance, transparency, and lawful operations. With these back-to-back wins, Binance strengthens its readiness to vigorously defend itself against unfounded claims.
Mubadala Joins US Led Consortium to Secure Energy and Critical Mineral Supply Chains as Pax Silica Initiative Accelerates
What Is It About?
The United States is anchoring this new fund with a $250 million contribution aimed at securing reliable access to rare earth materials and energy resources. This initiative was specifically launched to reinforce global logistics and high-tech manufacturing in response to severe supply disruptions centered around the Strait of Hormuz.
Why It Matters?
By aligning with Pax Silica, Mubadala is positioning the UAE at the heart of the "new oil"—the critical minerals required for chips and the energy transition. This partnership is a direct attempt to stabilize industries that have seen their valuations "tank" due to geopolitical tensions, ensuring that essential components for global AI and tech remain insulated from regional volatility.
What’s Next?
Analysts are watching for the fund’s first major mineral acquisitions and how the $250 million seed capital will be leveraged. The market will focus on whether this US-led cooperation can successfully bypass current trade chokepoints and provide a blueprint for a more resilient, Western-aligned high-tech supply chain.
Iran Imposes $2Mn Transit Toll on Strait of Hormuz as Saudi Aramco CEO Amin Nasser Cancels CERAWeek Appearance
What Is It About?
Iran is effectively monetizing its control over the Strait, demanding multimillion-dollar payments from select vessels on an opaque, ad-hoc basis. ADNOC Group CEO Sultan Ahmed Al Jaber has condemned the practice as "economic terrorism," warning that these disruptions threaten the fundamental flow of global energy at a time of extreme regional instability.
Why It Matters?
This "toll" adds a massive, unpredictable cost to global supply chains, further inflating oil prices and shipping insurance premiums. As Gulf markets tank, the cancellation by Amin Nasser signals that the world’s largest oil exporter is in a high-alert defensive posture, prioritizing domestic energy security over international climate and industry summits.
What’s Next?
Analysts are watching for a coordinated international response to challenge these fees, as an unrecognized toll could set a dangerous precedent for global maritime law. Watch the Brent crude price closely; if the "Hormuz tax" becomes a permanent fixture, we could see a sustained flight from Asian manufacturing stocks toward safer Western assets.
👨💻From Smashi Business’ Desk
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CEO Mudassir Sheikha says the company’s top priority is the “safety of our captains”
Khalaf Al Habtoor: “Dubai Remains One of the Safest Destinations on Earth”
'Cancel ChatGPT': Sam Altman Under Fire for Pentagon Deal as US Attacks Iran
🔍In other news…
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Naguib Sawiris Rejects Funding Role in Conflict He “Did Not Agree To”
Iran attacks wipe out 17% of Qatar’s LNG capacity for up to five years, QatarEnergy CEO says
France Pledges to Double Humanitarian Aid to Lebanon
US approves $7 billion more in weapons for UAE, WSJ reports
FIFA Clears Israeli Settlement Clubs, Fines Israel FA Over Discrimination Breaches
🦄 World of Startups
Stake Raises $31M Series B Led by Emirates NBD, Total Funding Hits $58M
US-based Luma AI is planting its flag in Riyadh — opening a regional headquater
Singapore's Ascentium continues its aggressive expansion, acquiring UAE legaltech pioneer Clara in a strategic Middle East play
Abu Dhabi is quietly becoming one of the most influential financiers of the global AI race, with its latest participation in Anthropic’s massive $30B funding round
Safqah Capital has just closed one of Saudi Arabia’s largest-ever seed rounds, raising $15.2 million in a deal that was four times oversubscribed
🗓️ Plan Your Events (March-April 2026)
UAE
31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.
26-28 March (Thursday-Saturday): Social Capital Conference, Dubai.
7-9 April (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.
13-15 April (Monday-Wednesday): AIM Congress, Dubai World Trade Center.
14-16 April: (Tuesday-Thursday): the International Property Show, Dubai World Trade Center.
Saudi Arabia
13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.
20-22 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh
Egypt
30 March – 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).
