AGP Executive Report

Space & AI Markets: SpaceX set its IPO price at $135 per share, aiming to raise about $75B and value the company at ~$1.77T—potentially making Elon Musk the world’s first trillionaire; the filing also shows Musk would hold 82.4% of voting power via dual-class shares. Energy & Infrastructure: UN researchers warn AI-driven data centres could nearly double electricity use by 2030 and consume far more water, with AI expected to account for about 40% of data-centre power demand. Saudi Project Pipeline: McDermott won an Aramco long-term project management consultancy deal, teaming with Saudi firm SLFE for engineering and pre-FEED/FEED work across energy and low-carbon projects. Power Contracts: KEPCO secured Saudi Aramco-related work for the Jafurah combined-cycle power plant phase 2, with the project set to supply power and steam for 17 years. Aviation Links: Air India and Riyadh Air signed an MoU for a codeshare and interline partnership, targeting smoother travel between India and Saudi Arabia via their hubs. Regional Tech & Travel: dnata Travel appointed a new VP for corporate travel in Dubai, expanding tech-led duty-of-care and booking capabilities across the GCC.

AI & Sustainability: UN researchers warn data centers powering AI could double power and water use by 2030, with rising land footprints and e-waste risks. Space Tech & Markets: SpaceX set a $135 IPO price for a record $75B raise, valuing the firm around $1.77T and keeping Elon Musk in control with 82.4% voting power. Saudi Energy Projects: KEPCO won a $1.4B Saudi cogeneration Phase 2 deal with Aramco, aiming for June 2029 operations. Robotaxis in Europe: WeRide and Uber plan Spain’s first commercial robotaxi pilot in Madrid, with driverless expansion as milestones are met. Saudi Payments Upgrade: Checkout.com partners with Nahdi to improve digital checkout and payment success across Saudi and the GCC. Food Security Research: Almarai opens nominations for its $500,000 food security research prize with KACST, targeting dryland innovation. Digital Finance Recognition: Saudi Awwal Bank wins innovation awards for its SAB Innovation Centre and initiatives. Regional Tech Diplomacy: SPIEF 2026 in St. Petersburg expands its agenda with 200+ sessions on economic and technology cooperation through June 6.

AI & Digital Services: Zain KSA launched an AI Center of Excellence to embed AI across customer care, commercial operations and network management as Saudi pushes its “Year of AI.” Energy & Power Projects: TAQA-led consortium won the 2.6GW Taweelah C IPP contract in Abu Dhabi, with Saudi Aljomaih Energy and Water as a key member; the deal includes a path to future carbon capture and a PPA running to 2050. Aviation Tech: Saudia became the first airline to deploy Panasonic Avionics’ Astrova inflight engagement on the Airbus A321XLR, bringing 4K OLED, spatial audio and personalised digital experiences. Hajj Tech & Community Impact: Saudi-linked efforts highlighted smart systems for Hajj safety and crowd control, while an Ilorin-born scholar translated the Saudi Hajj sermon into Yoruba for pilgrims. Policy & Security: Saudi urged stronger UN action against illicit small arms trafficking, calling for tech support and national capacity building. Trade Watch: The US proposed up to 12.5% extra tariffs on imports tied to forced labour, naming Saudi Arabia among affected economies. Infrastructure Expansion: DAMAC Digital said its planned IT capacity landbank hit 6,000MW across 13 countries, targeting 2GW operational capacity by Q1 2028.

AI Infrastructure in Saudi: PIF’s Humain partnered with Nvidia on a multi-year plan for AI factories (up to 500MW) and massive GPU deployment, starting with an 18,000-GPU supercomputer plus Omniverse simulation tools for sovereign AI and autonomous mobility. Digital Health: Saudi Arabia’s Unified Health Record model is inspiring Pakistan’s push for nationwide digital patient records, aiming to cut fragmented data and improve care continuity. Healthcare Tech at Home: Saudi Arabia is rolling out a value-based health system using AI diagnostics, robotic surgeries, and virtual care, with the Seha Virtual Hospital linking hundreds of facilities. Infection Prevention Tech: A Riyadh presentation highlighted real-time microbial visualization to detect viable pathogens on environmental surfaces, aiming to shift EVS/IPC from reactive checks to proactive prevention. Robotaxis Expansion: WeRide and Uber are set to launch Spain’s first robotaxi service in Madrid, with Saudi cities expected to be next. Regional Connectivity: Kuwait’s municipal approval clears the way for the Kuwait–Saudi rail link’s first phase (85.8km), boosting GCC logistics. Hajj Tech & Public Health: WHO praised Saudi Arabia’s 1447 AH Hajj for staying epidemic-free, citing robots, drones, and AI crowd-management systems.

Saudi Tech & Industry: Saudi Aramco and Emerson will co-develop next-gen corrosion management solutions, using ultrasonic online monitoring and real-time data to cut manual checks and improve safety. Saudi Real Estate: Ladun’s consortium with Al-Ayuni won a SAR 6bn ($1.6bn) redevelopment project in Makkah, covering master planning, utilities and infrastructure for serviced land plots. Saudi Finance: SAMA licensed two new finance firms—one for finance aggregation and another for consumer finance—pushing more competition and access. Saudi Labor Policy: The HRSD is raising Saudization to 70% in 12 procurement-related professions, with inspections and penalties for non-compliance. AI & Mobility: WeRide and Uber plan Madrid’s first commercial robotaxi pilot later this year, with rides via the Uber app and fleet scaling tied to performance milestones. Hajj Tech & Health: Saudi Arabia and WHO praised the 2026 Hajj as a public health success, citing surveillance, screening and health-monitoring tech. Regional Tech/Trade: India-Oman CEPA kicks in from June 1, with Oman positioned as a Gulf trade and energy gateway beyond the Strait of Hormuz. Autonomous Logistics: UAE-based CargoX raised $250m to expand driverless delivery across last-mile, middle-mile and long-haul routes. Startup Spotlight: FHS Saudi Arabia’s Startup Den returns, with hospitality-focused finalists pitching for mentorship and funding.

AI IPO Race: Anthropic confidentially filed for a U.S. IPO as the AI boom turns into a public-markets sprint, with SpaceX also targeting a massive Nasdaq listing at a $1.75T valuation. Saudi Health & AI for Hajj: WHO praised Saudi Arabia for a safe 2026 Hajj, while SDAIA said it ran an AI-powered digital ecosystem for security, crowd management, and faster pilgrim screening. Defense & Regional Tech: Satellite analysis claims Iran struck at least 20 U.S. military sites across eight countries, including Saudi Arabia and the UAE, raising questions about what Washington discloses. Energy Engineering in the Gulf: Bids are heating up for multibillion-dollar Dorra offshore gas field packages involving Saudi Arabia and Kuwait, with major EPC contenders named. Saudi Tech & Water Stewardship: Electro Scan joined the Alliance for Water Stewardship, pushing measurable water replenishment solutions for infrastructure and water-neutral growth. Semiconductors: Broadcom hit a $2T market cap milestone, fueled by demand for customized AI chips.

Hajj Tech & Health: Saudi Arabia’s SDAIA boosted digital support across 75 operational sites and 14 screening/security centers to keep 1447 AH departures running smoothly, while WHO praised the Kingdom for preventing disease outbreaks and using modern tools like robots and drones. Climate Risk for Pilgrims: A new analysis warns global heating has “fundamentally altered” Mecca’s climate, shrinking the safer months and raising heat-stroke risk for hajj crowds. AI-Generated Misinformation: A viral video of a “sea of pilgrims” at Mount Arafat was flagged as AI-generated and inconsistent with real footage. Autonomous Mobility Push: NVIDIA expanded its DRIVE Hyperion robotaxi-ready ecosystem, with HUMAIN working to bring robotaxis to Saudi Arabia as the platform scales across the Middle East. Gulf Trade Resilience: India’s CEPA with Oman kicks in today, with Oman’s coastline outside the Strait of Hormuz seen as a strategic backup route during regional disruptions. Saudi Business & Markets: MGC set an IPO price range (SAR 11–12.5) aiming to raise up to SAR 3bn, and Kingdom Holding reportedly disclosed a major stake in SpaceX as its shares jumped. Energy & Security Tech: Research highlights how unmanned aerial systems could improve safety and emergency response in Saudi’s Khurais oil fields.

AI-Powered Hajj Security: KACST and Saudi General Directorate of Public Security rolled out the “Roya” AI platform for holy-site safety, using satellite imagery, GIS, and thermal analysis to speed decisions and improve crowd and traffic management. Environmental Monitoring Upgrade: Saudi Arabia’s National Center for Environmental Compliance boosted Hajj inspections by 145%, using 200+ satellite images with AI analysis, expanding lab testing to 2,300+ samples, and running a 24-hour pollution forecasting program. Hajj Feedback Loop: Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah urged pilgrims to share feedback via X to improve future Hajj services. Saudi Tech & Infrastructure: Letsia Holding announced Letsia HyperDC, a green data center and enterprise cloud project in Riyadh, as part of its push in fintech, digital infrastructure, and cloud services. Semiconductors & AI Demand: SK Hynix crossed the $1T valuation mark, underscoring how AI is driving massive appetite for advanced memory. Global Tech Policy: China is expanding digital yuan use at home and abroad, pushing banks to adopt e-CNY for trade and even fiscal spending. Regional Trade Deal: India and Oman CEPA takes effect June 1, aiming to expand trade and services—another sign of Gulf-linked tech and business momentum.

Hajj Operations Update: Saudi Arabia says the 1447 AH Hajj wrapped up smoothly, with Interior Minister Prince Abdulaziz bin Saud reporting stable security and no incidents disrupting pilgrims, while the Municipalities and Housing ministry says it removed over 250,000 tonnes of waste in Makkah and cleared 16,000 tonnes at holy sites, alongside 38,000+ food inspections and zero food-poisoning cases. Smart Safety & AI: Saudi authorities also rolled out AI, predictive analytics, and satellite-based environmental monitoring to improve crowd management and speed up emergency response during the pilgrimage. Energy Reliability: Saudi Energy reported record peak electricity demand at Arafat (464 MW) and Mina (375 MW), with no power outages and smart-grid upgrades including the Mina 7 substation. Digital Infrastructure: Letsia Holding is expanding in Riyadh with Letsia HyperDC, a green data center and enterprise cloud built around renewable energy, efficient cooling, and sustainability targets. Health Tech: Bahrain launched a sickle cell disease national registry to track patient data and improve treatment planning and research. Climate Law: A UN-backed move affirmed an ICJ ruling that countries have a legal duty to limit global warming, setting up future legal fights.

AI in Saudi Cybersecurity: Saudi organizations are shifting from audit-only compliance to AI-driven, real-time risk management as threats rise and Vision 2030 accelerates digital adoption. Digital Infrastructure in Riyadh: Letsia is building Letsia HyperDC, a green data center and enterprise cloud platform aimed at supporting AI-ready workloads across the region. Geospatial Tech Push: Saudi GEOSA joined FIG Congress 2026 as a diamond sponsor, showcasing smart geospatial solutions and national geospatial infrastructure. Modular Construction Deal: EcoModular signed an MoU with Riyadh-based IDS and Riga’s Modul Consult to scale modular building projects across the GCC. Hajj Tech & Services: Saudi Arabia’s 1447 AH Hajj success drew regional praise, with emphasis on crowd management and smart technologies. Maritime Heritage: Jeddah’s Red Sea Museum launched “Sunken Treasures,” highlighting underwater shipwreck discoveries and UNESCO-linked preservation efforts. Climate Pressure on Hajj: New reporting warns global heating is shrinking the safe season for Hajj, with Mecca facing extreme heat risks. Space & IPO Buzz: SpaceX’s expected Nasdaq listing keeps investors watching as the company blends launch, broadband, and AI ambitions.

Hajj Tech & Safety: The OIC and Arab League leaders praised Saudi Arabia’s Hajj 1447H success, highlighting integrated security, health, service systems and smart technologies used from arrival to the holy sites. Climate Risk for Pilgrims: New research warns global heating is shrinking the “safe” weather window for Hajj, with Mecca May temperatures now resembling summer in the 1980s and extreme heat expected to worsen without a fast shift away from fossil fuels. Hormuz Digital Tension: An OpEd argues Iran is weaponizing undersea internet cables in the Strait of Hormuz, pointing to how the region’s digital backbone could be targeted alongside energy chokepoints. Saudi Digital Economy: Coverage also points to Saudi fintech and cloud services driving profit growth, alongside telecom traffic surges during Hajj—showing demand for resilient networks during mass events. Crypto & Markets: Bitcoin slipped out of the global top 10 by market cap as crypto cap fell under $1.5T, while Wall Street hit record highs amid Iran diplomacy headlines.

Hajj Tech & Safety: Saudi Arabia’s CST says telecom and internet traffic surged across Makkah and holy sites during Hajj, with 17.6M local voice calls and 2.6M app calls handled smoothly—showing how network planning is keeping pilgrims connected. Digital Economy: Saudi listed tech firms posted strong Q1 2026 earnings, with profits up 16% YoY to SAR1.07B, driven by cybersecurity, digital identity, managed services and cloud. Payments Upgrade: Dinero Pay expanded Saudi payment options (including Apple/Google Pay and local BNPL) by deploying a white-label infrastructure with Akurateco to move faster in a regulated market. AI Talent Race: A Stanford AI Index-linked report highlights UAE leadership in AI talent growth, with Saudi among countries seeing rising AI talent concentration. Cyber & Cables: Iran’s proposal to charge major tech firms for undersea cable use through the Strait of Hormuz adds a new risk layer for global connectivity. Climate & Hajj Risk: A study warns climate change is shrinking the “safe” weather window for Hajj, pushing extreme heat deeper into the calendar. Semiconductors: SK Hynix joined the $1T club as AI demand boosts memory chip revenues.

Hajj Tech & Safety: Saudi Arabia says Hajj operations ran smoothly thanks to strict regulation, crowd management and modern tech, with Interior Ministry officials highlighting advanced planning and real-time monitoring across Makkah and holy sites. Hajj Health & Food Systems: Saudi authorities report no food poisoning cases during Hajj 1447H after 29,000 food safety inspections, with thousands of samples tested via mobile and fixed labs. Digital Infrastructure for Pilgrims: SDAIA delivered advanced digital support for Hajj operations, while smart systems helped guide pilgrims and manage movement during peak days. Aramco Supercomputing: Aramco plans a $373 million supercomputer to boost upstream operations, signaling more Saudi investment in high-performance computing for energy. Meta Subscriptions Rollout: Meta expands paid tiers across Instagram, Facebook and WhatsApp, plus AI-focused creator/business plans under “Meta One,” pushing a new subscription model for the region’s social users. Cyber & Data Sovereignty: Netskope expands data sovereignty support across dozens of countries, a move that matters for Saudi enterprises handling regulated data. AI for Regional Deals: A report argues AI collaboration could become a new driver for Gulf-Israel tech cooperation after the Abraham Accords—if geopolitics allows it.

High-Performance Computing for Energy: Saudi Aramco plans a $372.5M supercomputer deployment in 2027 with stc’s solutions by stc, aiming to boost upstream seismic interpretation and reservoir modelling capacity by more than 7x. Hajj Tech & Medical Readiness: Saudi Arabia’s Ministry of Health says it delivered 1.2M+ medical services to pilgrims, using field teams, rapid response, and digital monitoring across Mecca and Medina. Digital Systems for Pilgrims: SDAIA expanded advanced digital support for Hajj, extending services to 75 operational sites plus screening and security control centers for faster coordination. Urban Cooling Push: Riyadh is set to start a cooling project next year to cut asphalt and wall temperatures by 8–15°C using new materials, water/evaporation features, and afforestation under the Riyadh Green Program. Aramco Downstream Deal: Aramco transferred its PRefChem stakes to PETRONAS, making the complex wholly owned by PETRONAS and enabling tighter downstream alignment. Precision Connectivity at KAUST: SkyLink Technologies completed the first SkyLink X-1 deployment at KAUST, targeting millimeter-level positioning for drones and autonomous systems. AI Infrastructure, Not Just Apps: A roundup highlights MENA startups building core AI infrastructure—sovereign LLMs, secure enterprise platforms, and GPU data center foundations—rather than only consumer tools. Hajj Security Coordination: Saudi Interior Minister Prince Abdulaziz bin Saud met Arab and Pakistani counterparts in Makkah to coordinate security for Hajj operations.

Hajj Tech & Safety: Saudi Arabia is expanding smart services for elderly and disabled pilgrims, including electric carts, volunteer teams, and interactive maps at the Grand Mosque, while Mina’s Jamarat facility highlights crowd-flow engineering with smart cooling and monitoring. Energy Security: A prolonged Strait of Hormuz closure is flagged as a major risk to oil and LNG supply, with developing countries facing shortages beyond price shocks. Defense & Drones: Saudi Arabia is building domestic production of SkyWasp one-way attack drones near Riyadh, aiming for mass, attrition-style strike capability. Cyber & Sovereign AI: SentinelOne strengthens its Saudi cybersecurity strategy with sovereign AI-driven operations, and Emerson and Aramco are co-developing next-gen corrosion monitoring tech. Saudi Innovation: Aramco and Pasqal launch Saudi’s first quantum computer and QCaaS platform, while RedCloud starts Saudi operations for its AI distribution infrastructure. Archaeology: Saudi archaeologists uncovered the “Diriyah Treasure,” a clay pot hoard of gold, silver, and gemstone jewelry possibly buried by a medieval pilgrim.

Hajj Tech Upgrade: Saudi Arabia is pushing crowd control and medical logistics to a new level at Mina and the holy sites, with the modern Jamarat facility now able to move 300,000+ pilgrims per hour thanks to a five-floor, 950m-long design packed with escalators, bridges, smart cooling and monitoring. Heat-Relief Drones: As Mecca temperatures hit around 45C, health teams are increasingly using drones to keep 127 clinics supplied fast, cutting long supply runs during peak demand. Grid Reliability Push: Saudi Energy is also rolling out AI forecasting and real-time monitoring to protect electricity performance across Makkah, Madinah, Mina and Arafat during Hajj. Business Moves: Outside the holy sites, Colliers has completed its acquisition of Ayesa Engineering, expanding its engineering footprint across 23 countries.