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Saudi Eyes OpenAI Stake, Binance Enters Syria, DHL Bets €500M on MENA Health Boom
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Friday, June 13, 2025
Happy Friday everyone!
Saudi Arabia’s Public Investment Fund is reportedly in talks to join OpenAI’s next major fundraise, following earlier backing from the UAE’s MGX. Meanwhile, Binance has officially opened its platform to users in Syria after the U.S. lifted sanctions, unlocking access to the global crypto economy. At the same time, German logistics giant DHL is committing €500 million to expand its healthcare logistics across Africa and the Middle East, capitalizing on rising demand and growing Chinese involvement in the region’s medical supply chain and infrastructure.
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Saudi Arabia’s PIF Reportedly In Talks To Join OpenAI Fundraise After UAE’s MGX Backing
What is it about?
OpenAI, the Microsoft-backed creator of ChatGPT, is reportedly in discussions to raise $40 billion, with potential participation from Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and UAE-based MGX, according to The Information.
MGX, an existing shareholder from the UAE, has previously backed OpenAI, while this would mark Saudi Arabia’s first direct stake in the AI company.
The financing round is said to be led by Japan’s SoftBaenk, and could see individual investments of hundreds of millions of dollars from each player.
Why it matters
If confirmed, PIF’s entry would mark Saudi Arabia’s first direct investment into OpenAI — a significant moment in the Gulf’s growing competition for AI dominance.
The UAE has already positioned itself as a regional AI leader through both private and government-backed initiatives, including its early investment via MGX.
OpenAI’s fundraising is tied to its massive infrastructure plans, including the “Stargate” supercomputer project, which requires global capital.
What’s next
OpenAI reportedly aims to raise an additional $17 billion in 2027 and is also in talks with U.S.-based Coatue and Founders Fund for $100 million each.
Sam Altman has recently engaged with Indian and Gulf leaders to explore AI collaborations and raise funds for OpenAI’s next growth phase.
Official confirmation from PIF, MGX, and OpenAI is still pending as discussions remain private.
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Binance Enters Syria After US Lifts Sanctions, Opening Doors for Millions of Users
What is it about?
Crypto exchange giant Binance has officially opened its platform to users in Syria, following the suspension of US sanctions announced by President Donald Trump last month.
Binance CEO Richard Teng said the move gives Syrians “a chance to build, invest, and connect” after years of economic isolation.
The platform will now provide Syrian residents access to over 300 cryptocurrencies, trading services, staking, cross-border remittances via Binance Pay, and Arabic-language educational content.
Why it matters
This is a historic shift: Syria was previously categorized as a prohibited country due to US-led sanctions, cutting it off from most digital finance platforms.
Binance’s expansion aligns with a broader push by Gulf investors into the crypto space. The exchange recently secured a $2 billion investment from Abu Dhabi’s MGX, led by UAE royal Sheikh Tahnoon bin Zayed.
Syria has long shown high crypto interest, ranking in the global top 10 for crypto-related search activity in 2021, fueled by inflation and a reliance on remittances.
What’s next
With a population of 24 million inside Syria and an estimated 8–15 million in the diaspora, crypto adoption could be a game-changer for remittances and digital inclusion.
Binance plans to support users with local guidance, dedicated Arabic support, and onboarding help to foster safe and regulated crypto activity.
As Syria rebuilds after a devastating civil war and regime change, crypto may become a key part of its economic recovery and reintegration into the global financial system.
DHL To Invest €500 Million In Africa, Middle East Health-Care Expansion Amid Rising Chinese Influence
What is it about?
German logistics giant DHL Group will invest €500 million ($575 million) over the next five years to expand its health-care logistics operations in Africa and the Middle East, focusing on vaccines, stem cells, and cryogenic shipments.
The investment is part of DHL’s broader €2 billion global health-care strategy, with around 25% allocated to the EMEA region, according to Annette Naude, head of health care for Europe, the Middle East, and Africa.
DHL’s key regional hubs include South Africa, Egypt, Kenya, Dubai, and Saudi Arabia, where it handles warehousing, packaging, and temperature-sensitive medical supply chains.
Why it matters
DHL’s expansion comes as China steps up investments in Africa, particularly in medical technologies like next-gen insulin and medical device manufacturing, aiming to fill gaps left by Western retrenchment.
The move aligns with Africa’s rising pharmaceutical demand, projected to reach $33.8 billion by 2030, and growing expectations for reliable, trackable delivery of medicines and devices.
As Naude put it, “When a doctor issues medicine at the bedside... he has to trust the network that medicine has been transported through.” DHL aims to build that trust through serialization and ultra-cold storage.
What’s next
DHL is collaborating with Chinese partners on health infrastructure, including a recent medical-device plant in Kenyathat serves Middle Eastern and European markets.
Future plans focus on supporting Africa’s pharma supply chains, strengthening digital tracking systems, and enabling governments to deliver advanced treatments more efficiently.
With rising competition from China and a fast-growing population, DHL’s push signals a strategic bet on health care as a growth engine in emerging markets.
🔍From Smashi Business’ Desk
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