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The UAE is pushing for greater access to Nvidia’s advanced AI chips, with Sheikh Tahnoon set to meet top Trump officials in Washington. Israel has invited Tesla to bid on a government EV contract, earning a public “thank you” from Elon Musk. Meanwhile, Dubai-based decarbonization firm Positive Zero, backed by BlackRock, is considering an IPO, as it scales operations and expands in clean energy.

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UAE Official Seeks US Approval for More Nvidia AI Chips Amid Export Curbs: Bloomberg

📰 What is it about?

• HH Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of the president, is set to visit Washington to push for greater access to advanced US semiconductors, according to sources cited by Bloomberg.

• His meetings are expected to include top Trump administration officials such as Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and National Security Advisor Mike Waltz.

• The visit aims to discuss easing export controls on Nvidia’s AI chips, which are critical to the UAE’s ambitions to become an AI hub.

• The UAE has invested billions in AI infrastructure but faces U.S. restrictions limiting access to cutting-edge chips.

💡 Why it matters?

• The U.S. imposed stricter AI chip export rules in 2023, limiting sales to countries outside its closest allies.

• The UAE has been categorized in a middle-tier group, capping its access to advanced processors despite efforts to align with U.S. security policies.

• The AI chip controls have drawn criticism from tech giants like Nvidia and some U.S. allies.

• HH Sheikh Tahnoon’s visit highlights the UAE’s broader push to secure a more favorable trade relationship with Washington while reinforcing its role as a major AI player.

🔜 What’s next?

• HH Sheikh Tahnoon will advocate for relaxed chip export restrictions and highlight UAE-backed investments in U.S. tech infrastructure.

• Abu Dhabi’s MGX has pledged funds for a $100 billion AI infrastructure project announced by Trump, potentially influencing the administration’s stance.

• The Trump administration is reviewing whether to maintain or amend Biden-era chip restrictions, with Sheikh Tahnoon’s visit marking a key moment in those discussions.

• Any policy changes could reshape global AI development, affecting both U.S. tech firms and the UAE’s ambitions to lead in AI innovation.

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Markets

After Trump’s Tesla Endorsement, Israel Invites Bids for EVs — Elon Musk Thanks Netanyahu

📰 What is it about?

• Israel has invited Tesla to submit a bid to provide electric vehicles for top government officials.

• Prime Minister Benjamin Netanyahu shared the news on social media, prompting a response from Tesla CEO Elon Musk, who thanked him.

• An Israeli official emphasized that the country is not influenced by “woke trends” and is focused on acquiring high-quality vehicles.

💡 Why it matters?

• The move follows former U.S. President Donald Trump’s high-profile purchase of a Tesla Model S Plaid, signaling support for Musk’s EV company amid political tensions.

• Tesla has faced backlash over Musk’s associations with the U.S. government and other controversies, including accusations of antisemitism.

• Israel’s decision highlights its willingness to separate business from political controversies and prioritize Tesla’s technology for official use.

🔜 What’s next?

• Tesla is expected to formally submit a bid, competing with other automakers for the Israeli government contract.

• The decision could further strengthen ties between Musk and Netanyahu, who has previously defended the billionaire.

• As Trump continues to back Musk and Tesla, the EV giant’s relationship with global governments may play a growing role in its business strategy.

BlackRock-Backed Positive Zero Eyes IPO as It Expands in Clean Energy

What is happening?

• Dubai-based decarbonization company Positive Zero, backed by BlackRock, is considering an initial public offering (IPO) as it scales operations.

• CEO David Auriau told The National that the company is also planning to raise hundreds of millions of dollars in debt to fund expansion.

• The company operates through three divisions: SirajPower (solar generation), Taka Solutions (energy efficiency), and Hypr Energy (mobile battery systems).

• Since securing a $400 million investment from BlackRock in 2023, Positive Zero has doubled its earnings and nearly tripled its capital expenditure on projects.

Why it matters:

• Positive Zero plays a key role in the UAE’s clean energy transition, working with major firms like DP World, Landmark Group, Dubai Holding, and Lulu Group.

• The company uses vendor financing, allowing businesses to adopt solar without upfront capital.

• The UAE’s clean energy share jumped to 35% in 2023, up from just 3% in 2019, driven by 29% annual growth in solar power.

• Trade tensions between the U.S. and China over solar goods could impact the sector, but Positive Zero remains confident in solar’s cost advantage.

What’s next?

• The company aims to continue expanding across the Gulf, securing more high-profile solar and energy efficiency projects.

• A potential IPO would provide new funding and further solidify Positive Zero’s role in the region’s green energy transition.

• With demand for clean energy rising, Positive Zero’s growth strategy aligns with the UAE’s 2050 net-zero goals and global sustainability trends.

🔍In other news…

• Saudi Arabia still needs consultants despite PwC ban, reports AGBI.

• Abu Dhabi Investment Authority (ADIA) has participated in the $200 million seed round of a US-based firm that operates in life sciences - Lila Sciences.

• Museum of the Future House at South by Southwest in Texas attracted 25,000 visitors.

• Riyadh emerges as Middle East’s fastest-growing market for data centers.

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