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1024 Middle East Money Takes a Round Trip

The Information
Kate Clark @ The Information · 05/14/2024 18:00 EDT

In the world of artificial intelligence, startups are raising heaps of cash from cloud and chip providers like Google and Nvidia. It’s a great deal for the big tech companies. The startups are also their customers, so much of that capital cycles back as revenue, a phenomenon some critics have dubbed “round-tripping.”A similar dynamic is beginning to occur between sovereign wealth funds in the Middle East and U.S. private investment firms. Saudi Arabia’s $925 billion sovereign wealth fund, Public Investment.

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