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Saudi+WWE+McMahon Rumors; Chinese AI Controversy; Lebanon’s Gold Reserve on Sale?
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Wednesday, February 25, 2026
Happy Wednesday everyone!
First, rumors that Vince McMahon is planning a WWE buyback with Saudi backing remain unverified, with no major news outlets confirming the claim. In tech, Gulf-backed Anthropic has accused Chinese AI labs DeepSeek, Moonshot, and MiniMax of using 24,000 fake accounts to distill its Claude model at industrial scale, raising IP and national security concerns. Meanwhile, Lebanon’s economic crisis has pushed politicians and bankers to consider tapping the central bank’s $45 billion gold reserves to stabilize the banking system, a move that could spark public backlash and political debate.
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FACT CHECK: Vince McMahon WWE Buyback With Saudi Backing Remains Unverified
What Is It About?
Recent claims suggest Vince McMahon may be exploring a WWE buyback backed by Saudi investors, with McMahon as a silent partner. The story originates from a February 23, 2026 podcast by former WWE broadcaster Jonathan Coachman, citing a single unnamed source. No official confirmation or documents have surfaced to support the discussions, and the report has circulated mainly through wrestling blogs and social media.
Why It Matters?
McMahon resigned from WWE/TKO in 2024 amid legal scrutiny, and a buyback would require significant regulatory and financial approval. Major news outlets have not verified the claim, and similar past rumors about a Saudi sale and McMahon’s return never materialized. The lack of corroboration highlights the story’s speculative nature.
What’s Next?
Until credible sources, TKO, or WWE confirm any deal, the claim should be treated as rumor. Investors, fans, and media should wait for official statements or filings before drawing conclusions about McMahon’s involvement or Saudi financing.
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Gulf-Backed Anthropic Publicly Accuses Chinese AI Companies of “Industrial‑Scale” Distillation
What Is It About?
U.S. AI developer Anthropic has publicly accused three Chinese artificial intelligence companies — DeepSeek, Moonshot AI and MiniMax — of running “industrial‑scale” distillation campaigns to extract capabilities from its Claude model. Anthropic says the firms created about 24,000 fraudulent accounts and made more than 16 million exchanges with Claude, using a training technique called distillation to improve their own models without authorization.
Why It Matters?
The allegations come amid intense debate over export controls on advanced AI chips and intellectual property protection in the global AI race. Anthropic says distillation used this way can effectively copy proprietary capabilities — especially reasoning, coding and tool use — at a fraction of the cost and time needed to develop them legitimately. The company also warned such practices could pose national security risks, particularly if distilled models are released without safety safeguards.
What’s Next?
Anthropic says it will strengthen defenses against distillation attacks and is calling for coordinated industry and policy responses, including tighter export controls and safeguards from cloud providers and governments. So far, the accused Chinese firms have not publicly responded, and the broader impact on AI policy and model governance remains to play out.
Lebanon Considers Using $45B Central Bank Gold Reserves to Tackle Economic Crisis
What Is It About?
Lebanon is exploring tapping its central bank gold reserves, valued at roughly $45 billion, to help stabilize its collapsing financial system, Financial Times has reported. Bankers and politicians are weighing selling or leasing portions of the reserves, which have tripled in value since the 2019 economic meltdown. The reserves, accumulated since the mid-20th century, are among the largest in the region, and could provide much-needed liquidity amid banking restrictions and a currency collapse.
Why It Matters?
The move is highly controversial. Many Lebanese view it as a bailout favoring banks and wealthy depositors, rather than the wider public. Since 2019, banks have limited access to savings, the pound has lost over 90% of its value, and the economy has teetered on collapse. Using gold reserves risks further public anger while potentially shifting wealth toward financial elites.
What’s Next?
Lawmakers are considering the ‘financial gap law’ to define responsibility for repaying depositors. Industry officials suggest liquidating around $15 billion to fund bonds for large depositors, while IMF officials have not opposed the idea. Public backlash and political sensitivities mean any decision will be closely watched, with critics warning ordinary citizens could bear the brunt of using Lebanon’s national gold assets.
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🦄 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
👨💻From Smashi Business’ Desk
HH Sheikh Khaled bin Mohamed bin Zayed met Indian Prime Minister Narendra Modi on the sidelines of the AI Impact Summit in New Delhi.
Humain, the artificial intelligence arm of the Public Investment Fund, invested $3 billion in xAI during its Series E round
Saudi Prince Alwaleed bin Talal’s combined stake across Elon Musk’s companies has reached an estimated $9.2 billion.
🔍In other news…
Shares of India’s IDFC First Bank, backed by the Abu Dhabi Investment Authority (Adia), slumped as much as 20 percent on Monday after the private lender disclosed suspected fraud amounting to 5.9 billion rupees ($65 million) over the weekend.
Etihad Airways profits soars nearly 50% as fleet, network expansion support strong demand
Saudi Arabia records largest budget deficit since Covid
World Bank allocates $50m for transportation projects in Syria
Neom uncertainty leaves $10bn joint venture in limbo
Mexico is preparing to expand its trade ties with Saudi Arabia by exporting high-quality rice to the Kingdom, sources told Asharq Al-Awsat.
Adia backs India’s Clean Max IPO as anchor investor
🗓️ 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).
