- Smashi Business
- Posts
- Saudi Prince Alwaleed Buys $129.5MN Lucid Stake; Six Kings Slam Returns to Netflix; US and UAE Launch AI Defense Task Force
Saudi Prince Alwaleed Buys $129.5MN Lucid Stake; Six Kings Slam Returns to Netflix; US and UAE Launch AI Defense Task Force
In partnership with
Thursday, July 30, 2026
Happy Thursday everyone!
Technology investments, international sports broadcasting, and bilateral defense initiatives are driving new capital and strategic alignments across Middle Eastern markets. Saudi Prince Alwaleed bin Talal acquired a 5% stake in electric vehicle maker Lucid Group for $129.5 million, providing private royal backing alongside the Public Investment Fund. In sports entertainment, Netflix confirmed it will stream the third edition of Riyadh’s Six Kings Slam exhibition tennis tournament this October, featuring a $13.5 million purse. Meanwhile, the United States and the United Arab Emirates are launching Task Force Talon Synapse, a joint military AI unit based in Abu Dhabi to advance defense technologies.
Markets
EGX30 | 53,627.32 | 0.19% |
DFMGI | 5,789.73 | Closed |
ADX | 9,839.56 | 0.048% |
Tadawul | 10,544.10 | 1.26% |
Prince Alwaleed Acquires Five Percent Stake in Lucid Following Volatile Trading
What Is It About
Billionaire investor Prince Alwaleed bin Talal purchased 19.5 million shares in Lucid Group for $129.5 million, securing a 5% equity stake in the electric vehicle manufacturer. The purchase follows weeks of market volatility during which the company dismissed insolvency rumors and hired operational restructuring advisers. Disclosure of the regulatory filing triggered a 22% surge in Lucid’s stock price, supplementing the 45.4% majority position held by Saudi Arabia's Public Investment Fund.
Capitalizing on Market Dips: The prince’s investment office acquired the equity position during a sharp decline in the company's share price.
Institutional Backing Presence: The Public Investment Fund has committed over $9 billion to the vehicle maker since 2018.
Broader Tech Portfolios: Prince Alwaleed's Kingdom Holding maintains significant stakes in major global firms including Citigroup, X, and Snap.
Why It Matters
Individual royal backing alongside sovereign fund capital signals continued domestic commitment to establishing Saudi Arabia as a hub for electric vehicle production. While the $129.5 million capital injection does not fully solve the automaker's long-term cash requirements, it helps restore investor confidence following recent insolvency speculation. This personal investment reinforces the Kingdom's strategy to diversify its industrial base beyond traditional crude processing.
What’s Next
Lucid executives will focus on operational cost reductions while preparing to roll out their mid-size vehicle platform. Financial analysts will track quarterly delivery numbers to evaluate whether recent restructuring steps improve profit margins.
Mid-Size Platform Launches: Engineering teams will complete pre-production testing for the upcoming mass-market vehicle line.
Cost Reduction Audits: Management will review operational expenses across production facilities to lower cash burn rates.
Apple’s Starlink Update Sparks Huge Earning Opportunity
Apple just secretly added Starlink satellite support to iPhones through iOS 18.3.
One of the biggest potential winners? Mode Mobile.
Mode’s EarnPhone already reaches 490M+ users that have earned over $1B, and that’s before global satellite coverage. With SpaceX eliminating "dead zones," Mode's earning technology can now reach billions more in unbanked and rural populations worldwide.
Their global expansion is perfectly timed, and investors like you still have a chance to invest in their pre-IPO offering at $0.52/share.
With their recent 32,481% revenue growth and newly reserved Nasdaq ticker, Mode is one step closer to a potential IPO.
Please read the offering circular and related risks at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.
Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.
The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.
Netflix Secures Global Streaming Rights for Riyadh’s Six Kings Slam Tennis Tournament
What Is It About
Netflix will broadcast the third edition of the Six Kings Slam exhibition tennis tournament worldwide this October at no additional charge to subscribers. Held as part of Riyadh Season, the event features top players including Jannik Sinner, Carlos Alcaraz, and Novak Djokovic competing for a $13.5 million total prize pool. Production will be managed by IMG, a subsidiary of TKO Group Holdings, which confirmed its long-term operational framework in Saudi Arabia remains unchanged.
High Player Earnings: The tournament offers a $6 million winner’s check alongside a guaranteed $1.5 million appearance fee for each participant.
Elite Player Lineup: The six-player roster includes Alexander Zverev, Taylor Fritz, and Alex de Minaur competing in Riyadh.
Broadcast Production Partners: IMG will manage live feeds for Netflix, building on TKO’s existing event operations in the region.
Why It Matters
Securing live global streaming rights for high-prize exhibition events allows streaming platforms to build their subscriber base through exclusive sports content. For Saudi Arabia, partnering with major entertainment distribution networks increases international visibility for its Riyadh Season cultural and sports initiatives. The multi-million-dollar purse highlights how non-tour exhibition formats are shifting financial structures across professional tennis.
What’s Next
Netflix and IMG production crews will set up broadcast hardware at the venue ahead of the October matches. Tournament organizers will publish the complete match schedule and court assignments once initial player draws are finalized.
United States and UAE Form Joint Defense Task Force Dedicated to Military Artificial Intelligence
What Is It About
The US Central Command and the United Arab Emirates are launching Task Force Talon Synapse, a joint military unit focused on artificial intelligence applications. Based in Abu Dhabi, the team will bring together roughly 20 American and Emirati specialists in AI, cybersecurity, and data analysis. First proposed by UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan and CENTCOM commander Admiral Brad Cooper, the unit will concentrate on intelligence processing, infrastructure protection, and threat monitoring.
Bilateral Command Structure: Embedded specialists from both militaries will work within a single operational team to test defense technologies.
Operational Focus Areas: The unit’s mandate covers regional security analysis, critical infrastructure defense, and real-time data processing.
Pioneering Defense Model: CENTCOM identified the project as its first dedicated bilateral AI military unit with a regional partner.
Why It Matters
Establishing a dedicated military AI unit strengthens defense cooperation between Washington and Abu Dhabi, providing a framework to test advanced software under real-world conditions. The initiative aligns with the UAE’s broader ambition to become a global hub for artificial intelligence and advanced technology development. Integrating technical teams directly accelerates the evaluation of new security software compared to traditional procurement channels.
What’s Next
Military leaders will formally activate the task force in Abu Dhabi and begin joint intelligence processing operations. Defense teams will test automated monitoring software across designated infrastructure networks over the coming months.
Task Force Activation Ceremonies: Command personnel will finalize operational handovers at the new Abu Dhabi headquarters.
Software Deployment Audits: Technical specialists will run trial tests on cybersecurity systems and real-time threat detection models.
The toughest room in advertising. Ad Studio just cleared it.
Major brands just took over a Times Square billboard, and every ad was built in Hightouch Ad Studio. Sweetgreen, HelloFresh, and Tripadvisor cleared the toughest room in advertising. Create, edit, and launch on-brand ads in a few clicks.
👨💻From Smashi Business’ Desk
Dreamers: HH Sheikh Mansour bin Zayed Al Nahyan bought Manchester City for £200 million and transformed it into one of football’s greatest dynasties.
Egyptian billionaire Naguib Sawiris has come to the defence of UAE businessman Mohamed Alabbar
UAE Billionaire Al Habtoor Urges Iran to Apologise, Warns Gulf Will Bear Cost of War
Saudi Arabia’s oil lifeline is facing a new threat - at Bab el Mandab
The world’s first Arab pitmaster, who founded Mattar.ae Third Culture Barbecue in 2015, has announced a tallow-based skincare product and handcrafted high-protein steak chips.
🔍In other news…
Iraq hunts for $77bn missing funds in corruption crackdown
Qatar has launched a diamond exchange in a bid to position Doha as a regional hub for the global trade in rough and polished diamonds
Red Sea shipping slows after Houthi attack on Saudi Arabia, data shows
UAE, Canada conclude record-speed CEPA talks to boost trade
Saudi Arabia’s push to become a global gaming and esports powerhouse is creating a new generation of professional content creators, prompting livestreaming platform Kick to expand aggressively across the Gulf
Iran says it still controls strait, not seeking talks, after Trump halts bombing
🦄 World of Startups
ChatFeatured, Canada-based AI startup, raised $2M in a pre-seed funding round from BY Venture Partners (UAE/Lebanon) and other global investors
Doctorbook, Syria-based healthtech platform, raised $16K in a pre-seed funding round from a group of angel investors, valuing the startup at $200K
Carbar, Australia-based car subscription platform, is merging with Carasti, UAE-based car subscription business operating across the UAE, Saudi Arabia, Thailand, and Singapore, at a combined pre-raise valuation of $74M
Fincart, Egypt-based eCommerce enablement platform, raised $2.8M in a seed funding round
