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Noon founder Mohamed Alabbar declared 'no need for people any more' as he announced plans to cut up to half of the e-commerce platform's jobs through AI automation. The stark message signals a major shift for one of the GCC's most prominent tech companies.
Abu Dhabi's International Holding Company executed a Dh110 million ($30M) transaction using the UAE dirham-backed stablecoin DDSC on the ADI Chain blockchain — one of the region's largest single stablecoin transactions, following Central Bank approval.
Saudi Arabia's leading vacation rental platform Gathern closed a $72 million Series B round led by Sanabil Investments. The company, now valued at over $266 million, is preparing for a potential IPO as it scales its market-leading position.
Collaboration software startup ClickUp laid off 22% of its workforce and deployed 3,000 internal AI agents to handle tasks. CEO Zeb Evans framed the cuts as a radical AI embrace, promising million-dollar salary bands for remaining employees who leverage AI effectively.
Qatar Investment Authority joined Anthropic's massive $13 billion Series F round, pushing the AI company's valuation to $183 billion. The sovereign wealth fund's participation signals deepening Gulf interest in frontier AI companies.