Happy Wednesday everyone!

Global markets are witnessing strategic moves across industries, from fintech to energy and semiconductors. Ninja is engaging leading banks to advise on a potential initial public offering, signaling growing investor interest in tech-driven enterprises. Egypt has announced plans to construct a $400 million gas pipeline to Israel, reinforcing its role as a regional energy hub. Meanwhile, Abu Dhabi’s G42 is exploring semiconductor options beyond Nvidia, highlighting efforts to secure resilient and diversified supply chains.

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Markets

Ninja Taps Banks for IPO Advice

🔹 What Is It About

Saudi quick-delivery startup Ninja is in talks to appoint investment banks to advise on a potential IPO as early as next year. The company, valued at SAR 5.6 billion after its latest funding round, has invited proposals from prospective underwriters and advisers. No final decision has been made, the IPO could be delayed until 2027 if market conditions dictate.

🔹 Why It Matters

The move signals Ninja’s ambition to become one of Saudi Arabia’s high-profile tech listings, highlighting investor appetite for the kingdom’s growing e-commerce and delivery sector. It also reflects Saudi Arabia’s broader efforts to attract more local startups to its capital markets.

🔹 What’s Next

Discussions with banks will determine whether Ninja moves forward with its IPO in 2025 or postpones until 2027. Any listing could significantly increase its valuation and visibility as the company expands into groceries, personal care, pharmacy services, and restaurants.

Egypt to Build $400M Gas Pipeline to Israel

🔹 What Is It About

Egypt plans to construct a $400 million pipeline to boost natural gas imports from Israel, with work expected to begin in late 2025. The project follows an agreement with NewMed Energy, aiming to increase annual gas imports from 4.5 to as much as 12.5 billion cubic meters by 2029.

🔹 Why It Matters

Egypt, once a gas exporter, has become a net importer due to rising consumption and falling production. The pipeline underlines Egypt’s urgent need for stable energy supplies while also cementing energy ties with Israel amid regional demand pressures.

🔹 What’s Next

The pipeline’s construction will run in parallel with efforts to boost domestic output. Prime Minister Mostafa Madbouly expects new projects and foreign investment to restore Egypt’s exporter status by 2027, potentially reducing long-term reliance on imports.

Abu Dhabi’s G42 Eyes Chip Options Beyond Nvidia

🔹 What Is It About

Abu Dhabi-based G42 is negotiating with major US tech firms, including Google and Microsoft, to anchor the planned UAE-US AI Campus, while also exploring chip supply partnerships beyond Nvidia with AMD, Cerebras, and Qualcomm. The 5-gigawatt project is one of the world’s largest AI infrastructure initiatives.

🔹 Why It Matters

This project positions the UAE as a regional AI hub, competing with Saudi Arabia’s massive investments in hyperscale computing. The campus will also provide “digital embassies,” offering nations a secure, cost-efficient place to store and process data.

🔹 What’s Next

The first phase, a 1-gigawatt facility using Nvidia’s GB300 systems and developed by OpenAI, MGX, Softbank, and Oracle, is expected in 2026. G42’s broader build-out will depend on final agreements with US hyperscalers and alternative chip suppliers as Gulf countries race to dominate AI infrastructure.

👨‍💻From Smashi Business’ Desk

• Sheikha Al-Mayassa Champions Mira Nair’s Work, Backing Women-Led Creativity in Qatar for Over a Decade.

• Huda Kattan Gets Candid: "Money Won’t Fill the Void" — Lessons From Building Huda Beauty.

• Turki Al-Sheikh Backs Shawarmer: “Don’t Surrender to a Trend” as Chain Fights Boycott with Jobs and Big Discounts

🔍In other news…

• Saudi Arabia plans two-part Islamic bond sale

• Flynas takes on $134m loan to fund Airbus deliveries

• Kuwait International Bank gains approval for $1.5bn sukuk

• Dubai real estate: 22 percent surge in off-plan demand propels sales to $10.89 billion in August 2025.

• Mubadala-backed Corient to acquire two European wealth managers in $214bln asset deal

• Mitsubishi Power MENA chief on meeting AI-driven energy demand

🏦 Crypto Corner

• 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.

We are launching a Smashi Crypto newsletter in September 2025! Subscribe to it here to get the weekly updates from the world of digital assets.

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