Introduction:
In this episode, we explore how the UAE and Saudi Arabia are making bold bets on artificial intelligence by partnering with tech giants like Nvidia and Microsoft to build massive AI infrastructure and talent hubs. This strategic pivot aims to diversify their economies beyond fossil fuels and position the Gulf as a crucial player in the global AI ecosystem amid rising US-China tech tensions. Next, we unpack the surprising 3.0% US GDP growth reported for Q2, revealing that it masks a historic 30.3% drop in imports and underlying economic weakness that the Federal Reserve is watching closely. Finally, we highlight Figma’s impressive $1.22 billion IPO, marking a major comeback after its failed $20 billion merger with Adobe, and showcasing strong investor confidence with a remarkable 132% net dollar retention rate.
Content and Timestamp:
00:00:24 The Gulf's AI Ambition: Shifting from Oil to 'Compute'
00:03:28 US Economic Growth Rebound Masks Underlying Slowdown Amid Trade Tensions
00:06:46 Figma's $1.2 Billion IPO Signals Thaw in Tech Listings
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