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- TikTok Finalises US Spin-Off; G42 Targets 1bn AI Agents; Binghatti Shelves IPO
TikTok Finalises US Spin-Off; G42 Targets 1bn AI Agents; Binghatti Shelves IPO
Sunday, January 25, 2026
Happy Sunday everyone!
TikTok finalised its US carve-out this week, creating a new American entity partly owned by Abu Dhabi-backed MGX after Washington and Beijing signed off on the deal, with Oracle, Silver Lake and MGX each holding 15%. In Abu Dhabi, G42 chief executive Peng Xiao said the company aims to deploy one billion AI agents in 2026, backed by a 5-gigawatt Stargate data-centre build operated with OpenAI and Oracle. In Dubai, Binghatti Holding said it will delay a stock-market listing despite raising $1.5 billion in sukuk, citing strong cash flow and AED10 billion in escrow as it expands across Palm Jumeirah, Downtown and Al Jaddaf.
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G42 Plans One Billion AI Agents as Abu Dhabi Builds a 5-Gigawatt AI Powerhouse
What’s it About?
Abu Dhabi–based G42 plans to deploy one billion AI agents in 2026, according to CEO Peng Xiao, speaking at the World Economic Forum in Davos. These agents, ranging from petroleum engineers to cybersecurity analysts, will run on the Stargate UAE AI cluster, a 1-gigawatt compute hub built by G42 and operated by OpenAI and Oracle inside the UAE–US 5-gigawatt AI campus.
Why it Matters?
If even a fraction of those agents work continuously, they would consume close to one gigawatt of compute, turning Abu Dhabi into one of the world’s largest exporters of AI-powered labour. Instead of shipping oil or data, the UAE is positioning itself to export “packaged intelligence”, reshaping how productivity, GDP, and national competitiveness are measured.
What’s Next?
More than 7,000 workers and 100 cranes are already building the campus at a pace of 250 megawatts per quarter. The key test will be whether Stargate can scale fast enough to meet demand as global firms begin outsourcing not just data processing, but entire AI workforces to the Gulf.
Markets
EGX 30 | 46,462.32 | Closed |
DFMGI | 6,484.38 | Closed |
ADX | 10,285.77 | Closed |
Tadawul | 11,133.58 | Closed |
TikTok Locks In US Future as Abu Dhabi’s MGX Joins New American Owner Group
What’s it About?
TikTok has finalized the spinoff of its US business into a new American-based company after approval from both Washington and Beijing. The new entity will be controlled by Oracle, Silver Lake, and Abu Dhabi-backed MGX, each holding 15%, with Adam Presser as CEO and Will Farrell as chief security officer.
Why it Matters?
This ends a years-long standoff over whether TikTok could keep operating in the United States. With US-based data control and algorithm oversight, the deal neutralizes national-security fears while giving Abu Dhabi a direct stake in one of the world’s most powerful media platforms, deepening the Gulf’s footprint in global tech.
What’s Next?
MGX, which has already invested in OpenAI and backed the $100 billion Stargate AI infrastructure project, is now positioned inside TikTok’s future. Expect tighter US regulation, a push toward AI-driven monetization, and rising geopolitical scrutiny as Big Tech and Gulf capital become increasingly entangled.
Binghatti Shelves IPO Plan as Strong Balance Sheet Reduces Urgency
What’s it About?
Dubai developer Binghatti Holding has ruled out an imminent IPO despite earlier talks with banks, saying its financial position and cash flow are “excellent”. Chairman Mohammed BinGhatti told Asharq Business that with more than AED 10 billion ($2.7bn) in escrow and a recent $1.5bn sukuk issuance, the company sees no pressing need to list.
Why it Matters?
The decision signals confidence in Binghatti’s liquidity and funding options at a time when some Gulf developers are tapping public markets to fund growth. Binghatti is using the sukuk proceeds to acquire land in prime Dubai locations including Palm Jumeirah, Downtown and Al Jaddaf, reinforcing its presence in high-demand residential segments.
What’s Next?
Binghatti says it continues to study a potential listing depending on market conditions. Its portfolio now includes more than 20,000 residential units and an estimated AED 44bn development pipeline, boosted by strong profit and revenue growth in 2025. Analysts will watch Dubai’s broader listing environment as developers gauge investor appetite after a mixed IPO cycle.
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🔍In other news…
Trump Team Unveils Real-Estate Driven Plan for Gaza
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MENA IPO Market Poised for 2026 Rebound After Volatile 2025
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🗓️ Plan Your Events (Jan-Feb 2026)
UAE
21-27 January: Emirates Airline Festival of Literature, Dubai.
21-24 January: Acres Real Estate Exhibition, Expo Center, Sharjah.
26-30 January: Gulfood 2026, Dubai
31 January-February 1: Sharjah Entrepreneurship Festival (Media Partners)
3-5 February: The World Governments Summit, Dubai.
9-12 February: World Health Expo (WHX), Dubai.
11-12 February: STEP Dubai Conference, Dubai Internet City. (Media Partners)
Saudi Arabia
28-30 January: Jeddah International Travel and Tourism Exhibition (JTTX), Jeddah.
2-4 February: Saudi Media Forum, Riyadh.
2-4 February: Women Leaders Summit and Awards KSA, Riyadh.
8-12 February: World Defense Show, Riyadh International Convention and Exhibition Center, Riyadh.
Egypt
5-7 February: RiseUp Summit, Cairo. (Media Partners)
11-12 February: Ai Everything Egypt (Organized by GITEX Global), Cairo. (Media Partners)
Qatar
1-4 February: Web Summit Qatar, Doha. (Media Partners)
2-5 February: 21st International Conference & Exhibition on Liquefied Natural Gas (LNG2026)
