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Saudi AI Expansion: $3 Billion Blackstone Deal Announced at FII
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Heartspace News Desk
•Source: Bloomberg.com
Photo by Hala AlGhanim on Unsplash
TL;DR
TL;DR: Wall Street CEOs, including Goldman Sachs' David Solomon and Citi's Jane Fraser, attended the Future Investment Initiative in Riyadh, where Solomon dismissed credit market risk concerns. The conference highlighted Saudi Arabia's burgeoning interest in AI, marked by Blackstone's $3 billion data center deal with Humain.
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Key takeaways
- Wall Street CEOs have convened in Riyadh for the annual Future Investment Initiative
- At the event, Goldman Sachs CEO David Solomon downplayed concerns about systemic risk in the credit market
- Meanwhile, Citi CEO Jane Fraser voiced optimism regarding potential collaborations between private credit and traditional financial institutions
Wall Street CEOs have convened in Riyadh for the annual Future Investment Initiative. At the event, Goldman Sachs CEO David Solomon downplayed concerns about systemic risk in the credit market. Meanwhile, Citi CEO Jane Fraser voiced optimism regarding potential collaborations between private credit and traditional financial institutions. The conference also showcased Saudi Arabia's growing focus on artificial intelligence, exemplified by a recently announced $3 billion data center agreement between Blackstone and Saudi AI company Humain.
Related Topics
Saudi Arabiaartificial intelligenceBlackstoneFuture Investment InitiativeGoldman SachsCitigroupinvestment
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