Happy Friday everyone!

The UAE is cementing its status as a global economic and innovation hub with three major developments this week. Washington has approved the first export licenses for Nvidia’s advanced AI chips to the Emirates, marking a new era in U.S.–UAE tech cooperation. Revolut CEO Nik Storonsky has officially relocated to the UAE, highlighting its growing appeal as a tax-friendly destination for global founders. Meanwhile, Dubai and Abu Dhabi posted record-breaking real estate transactions in Q3 2025, signaling strong investor confidence.

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Markets

US Approves First Nvidia AI Chip Exports To UAE In Strategic Tech Breakthrough

🔹 What Is It About

The United States has approved the first export licenses for Nvidia’s advanced AI chips to the UAE, marking a major step in deepening bilateral tech ties. Valued in the billions, the deal follows the landmark U.S.–UAE AI agreement signed in May. It includes a pledge for reciprocal Emirati investment in the U.S. and the development of a five-gigawatt AI data center in Abu Dhabi with OpenAI as an anchor tenant.

🔹 Why It Matters

The approval signals a new era of strategic technology cooperation between Washington and Abu Dhabi. It positions the UAE as one of the largest foreign investors in U.S. tech infrastructure while securing American influence over the use of advanced AI hardware abroad. For the U.S., it reflects a shift toward trusted partnerships to maintain an edge in the global tech race, particularly against major competitors.

🔹 What’s Next

The Trump administration plans to approve up to 500,000 advanced AI chips annually, accelerating deliveries to the Emirates. All chip operations in the UAE will be managed through approved American cloud providers to ensure security alignment. Analysts say this move cements the UAE’s role as a key global AI hub and deepens its strategic integration with the U.S. innovation ecosystem.

Revolut CEO’s UAE Move Highlights Billions In Lost UK Tax Revenue, Says British VC

🔹 What Is It About

Revolut CEO Nik Storonsky has officially relocated his residence from the UK. to the UAE, a shift that London-based investor Harry Stebbings says could mean a lost tax windfall of $8–10 billion for the UK. Storonsky’s 18% stake in the $36 billion fintech giant would have been subject to capital gains tax if he remained in Britain. The move follows the government’s decision to end the non-domiciled tax break.

🔹 Why It Matters

The relocation underscores the UAE’s growing appeal to ultra-wealthy founders seeking tax-efficient jurisdictions. Storonsky’s departure comes amid a broader exodus of high-net-worth individuals reconsidering London’s competitiveness as a financial hub. For the U.K., it represents not just a symbolic loss of a top tech founder but also a significant potential revenue gap as it tightens tax rules on foreign residents.

🔹 What’s Next

With Revolut deepening its presence in Dubai through local expansion and licensing, Storonsky’s move signals a shift in global fintech power dynamics. Analysts expect more founders to follow suit as tax policy becomes a decisive factor in where companies and their leaders choose to anchor themselves. The U.K. now faces pressure to rethink its approach to retaining top talent and investment.

Dubai And Abu Dhabi Post Record Real Estate Transactions In Q3 2025

🔹 What Is It About

Abu Dhabi and Dubai’s property markets hit record highs in Q3 2025, according to Property Finder. Abu Dhabi saw 7,154 transactions worth Dh25.3 billion, up 110% year-on-year, driven by strong off-plan demand. Dubai logged its highest-ever quarterly volume with 59,044 deals worth Dh169 billion — a 17% annual increase. Master developments in Abu Dhabi and waterfront and luxury zones in Dubai powered much of the momentum.

🔹 Why It Matters

The record-breaking performance highlights the UAE’s growing real estate appeal to both domestic and international buyers. Abu Dhabi’s surge reflects structural demand and confidence in large-scale master-planned communities, while Dubai continues to attract global investors seeking prime, well-located assets. The boom also signals a maturing market, with a balance between off-plan activity and resilient ready home sales.

🔹 What’s Next

Analysts expect continued strength in Q4, supported by population growth, infrastructure investments, and investor-friendly policies. With off-plan projects driving the bulk of transactions and luxury demand holding firm, both cities are well positioned to extend their real estate bull run into 2026, further cementing the UAE’s position as a global property investment hotspot.

👨‍💻From Smashi Business’ Desk

• Uptown Dubai has officially sold out, DMCC Chairman announced.

• Saudi Arabia’s SSC Channels Go Off Air After Losing Football Rights to Thmanyah.

• 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.

🔍In other news…

• PIF hires advisers for tech subsidiary IPO

• Oman announces $1.8bn housing project for citizens

• Dubai freezone companies get permit to bid for state tenders

• Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo

• Ray Dalio backs NYU Abu Dhabi's global index ranking top financial centres

• DP World breaks ground on futuristic global HQ at Expo City Dubai

🏦 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.

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