Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
ClearSkies Strengthens Cyber Resilience for Saudi Financial Sector
As Saudi Arabia transitions to a cashless economy, ClearSkies introduces its Centric AI platform to help financial institutions detect and respond to cyber threats in minutes.
ServiceNow Launches Autonomous Security & Risk Platform to Govern AI Agents and Connected Assets
ServiceNow has launched its Autonomous Security & Risk platform to govern AI agents, identities, and connected assets using integrations with Armis and Veza.
Intel Plans New Low-Cost AI Data Center Chip for 2026 Launch
Intel is preparing to launch a new data center processor focused on low-cost AI inference before the end of 2026.
Dell Reports Record Q1 Revenue of $43.8 Billion Driven by AI Server Demand
Dell Technologies reported record Q1 revenue of $43.8 billion, up 88% year-over-year, driven by a massive surge in AI server demand.
HPE Reports 21 Percent Revenue Surge Driven by AI Infrastructure Demand
HPE reports a 21% revenue surge and a $5 billion backlog, highlighting a growing demand for enterprise hardware solutions.
Canva Launches Canva AI 2.0 with Conversational Design and Autonomous Workflows
Canva has launched Canva AI 2.0, introducing conversational design tools and autonomous workflows to its 250 million active users.
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Saudi Arabia Joins Open Geospatial Consortium as First Strategic Partner Outside US and EU
Saudi Arabia has become the first strategic partner from outside the US and EU to join the Open Geospatial Consortium, marking a major step in global geospatial data governance.
Saudi Women Employment Reaches 6.5 Percent of Elsewedy Electric Workforce
Elsewedy Electric Group reports that female employees now make up 6.5% of its Saudi workforce, spanning technical, administrative, and factory roles.
Lumi Branch Expansion: New Outlets in Tabuk, Taif, and Jeddah
Lumi has opened three new branches in Tabuk, Taif, and Jeddah, expanding its vehicle rental and leasing network to 44 locations across Saudi Arabia.
Vertiv Expands Liquid Cooling Portfolio for AI Data Centers
Vertiv has expanded its thermal management systems in EMEA with the launch of the CoolChip CDU 2300 and Fluid Network Row Manifolds.
HUMAIN Partners with NVIDIA to Deploy Autonomous Vehicles in Saudi Arabia
HUMAIN has partnered with NVIDIA to deploy level 4-ready autonomous vehicles in Saudi Arabia, utilizing the DRIVE Hyperion platform.
Physical AI Enters Open-Source Era as Flat-Rate Billing Models End
The physical AI sector entered an open-source era on June 1, 2026, alongside a major industry shift from flat-rate pricing to token-based billing.
TikTok Football Fans Drive Digital Engagement in Saudi Arabia
A new study reveals that nine out of ten TikTok users in Saudi Arabia follow football, creating significant digital engagement ahead of the FIFA World Cup 2026.
Aramco and Emerson Partner to Develop Corrosion Management Solutions
Emerson and Aramco have partnered to co-develop advanced corrosion management solutions, digitalizing industrial monitoring across Saudi Arabia.
NVIDIA Launches Vera CPU Designed for AI Agents
NVIDIA has launched its new Vera CPU, delivering 1.8x faster task completion than x86 processors to power AI agents in modern data centers.
MiniMax Launches M3 Multimodal Foundation Model with 1M Context Window
MiniMax has officially launched its M3 multimodal foundation model, featuring a 1 million token context window and 15.6x faster decoding speeds.
Jeel Tamooh Program Launches Eighth Edition to Train Future Saudi Leaders
The Jeel Tamooh program has officially launched its eighth edition in Riyadh, welcoming 150 young Saudi professionals to develop leadership skills.
AMAK Launches Advance Drilling Co. with SAR 100M Capital
AMAK has established Advance Drilling Co. with SAR 100 million capital to accelerate mining exploration and support Saudi Vision 2030.
Esports World Cup Unveils Revamped Formats for Historic MLBB Tournaments
MOONTON Games has announced major format updates for the Mid Season Cup and MLBB Women’s International at the upcoming Esports World Cup.
Saudi Electronic University Signs Strategic Partnership with George Mason University
The Saudi Electronic University has signed a strategic partnership with George Mason University at NAFSA 2026 to enhance academic cooperation and research.
Anthropic Valuation Reaches $965 Billion After $65 Billion Funding Round
Anthropic has raised $65 billion in its latest funding round, pushing its valuation to $965 billion and overtaking rival OpenAI.
MiniMax M3 model Teased with 15.6X Decoding Speedup
MiniMax has teased its upcoming M3 model, featuring a custom sparse attention mechanism that delivers a 15.6x decoding speedup at a million tokens.