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- Need More $$$: Altman in Middle East; Oman's Tallest Tower; Abu Dhabi's Lunate, $5B, and Blackstone
Need More $$$: Altman in Middle East; Oman's Tallest Tower; Abu Dhabi's Lunate, $5B, and Blackstone
Tuesday, October 7, 2025
Happy Tuesday everyone!
OpenAI’s Sam Altman is in the region seeking funding to expand the company’s computing infrastructure, underscoring the Gulf’s rising role in global tech finance. In Oman, Egypt’s Al Ahly Sabbour will construct the sultanate’s tallest tower in the heart of Sultan Haitham City, signaling a bold new chapter in urban growth. Meanwhile, Blackstone and Abu Dhabi’s Lunate are teaming up on a $5 billion logistics platform spanning the GCC, capitalizing on booming e-commerce and industrial demand.
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OpenAI’s Sam Altman Seeks Gulf Funding For AI Infrastructure Push Amid Global Expansion Drive
🔹 What Is It About
OpenAI CEO Sam Altman is visiting the Middle East as part of a major fundraising effort aimed at scaling the company’s computing and chip infrastructure, the Wall Street Journal reported. Altman is meeting investors in the United Arab Emirates to secure capital for OpenAI’s next phase of infrastructure growth and AI research, as demand for computing power surges globally.
🔹 Why It Matters
The Gulf tour highlights the growing role of Middle Eastern investors in the global AI ecosystem, following major regional bets on advanced technology and semiconductor ventures. OpenAI’s expansion push comes as the company faces soaring computing costs, with annual server expenses projected to reach $16 billion this year.
🔹 What’s Next
After the UAE visit, Altman is expected to continue discussions in Asia with key chip suppliers — including TSMC, Samsung, and SK Hynix — to secure production capacity and supply agreements. The combined outreach signals OpenAI’s bid to build a more self-reliant and globally diversified hardware and funding base.
Egypt’s Al Ahly Sabbour To Build Oman’s Tallest Tower In Sultan Haitham City
🔹 What Is It About
Egypt’s Al Ahly Sabbour Developments has secured approval to build what it says will be Oman’s tallest tower in Sultan Haitham City, the sultanate’s flagship smart city project. Valued at $225 million, the mixed-use development will include 400 serviced apartments, a luxury hotel, shops, and restaurants, with construction set to begin in January 2026 and finish within three years.
🔹 Why It Matters
The project underscores Oman’s drive to modernize its urban landscape and attract high-end real estate investment. It also reflects growing regional confidence in the country’s property sector, which has seen transaction values rise 10% this year as demand expands beyond affordable housing.
🔹 What’s Next
The tower will serve as a landmark within the $2.6 billion Sultan Haitham City, expected to house 100,000 residents by 2045. Officials hope the project will draw both regional and global investors, setting a new benchmark for luxury development in Oman.
Blackstone And Abu Dhabi’s Lunate Launch $5 Billion GCC Logistics Platform
🔹 What Is It About
Blackstone Inc. has joined forces with Abu Dhabi’s Lunate to create a $5 billion logistics investment platform spanning the Gulf Cooperation Council. The venture will target developments, acquisitions, and sale-and-leaseback deals, building a regional team to manage assets and attract outside investors over time.
🔹 Why It Matters
The partnership comes amid surging demand for high-quality logistics infrastructure in the GCC, driven by e-commerce growth, manufacturing expansion, and ambitious diversification plans. It also deepens Blackstone’s footprint in a region undergoing rapid economic transformation.
🔹 What’s Next
The new platform will accelerate the buildout of logistics assets across the Gulf, supporting infrastructure development and attracting more institutional capital. Both partners are expected to expand their regional portfolios, with Blackstone leveraging its global logistics expertise and Lunate cementing its role as a major regional investor.
👨💻From Smashi Business’ Desk
Dubai-based Huda Beauty founder Huda Kattan condemned Israeli forces after reports of Greta Thunberg’s mistreatment in detention, calling them “sick people” in a strongly worded Instagram post.
Vercel CEO Guillermo Rauch is facing backlash after posting a photo on X showing him meeting Israeli PM Benjamin Netanyahu, wanted for war crimes by the UN-backed ICC.
Replit founder Amjad Masad says he faced “sabotage” from VCs for speaking out on Gaza — but urges the tech community to break its silence now that “the truth is undeniable.”
UAE Minister Showcases DIFC’s 20-Year Rise from Sand to Global Financial Hub.
🔍In other news…
🏦 Crypto Corner
Crypto data reveals UAE has mined bitcoins worth $700m
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. Subscribe to it here to get the weekly updates from the world of digital assets.
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