Billionaire tech entrepreneur Elon Musk recently visited the United Arab Emirates, holding high-level meetings with top officials to discuss the future of artificial intelligence and explore further business opportunities in the region. The visit comes as speculation grows around a potential 2026 public offering for his aerospace company, SpaceX, and highlights the deepening ties between Musk’s ventures and the GCC.
During the visit, Musk met with UAE President Sheikh Mohamed bin Zayed Al Nahyan, where discussions centered on the strategic importance of artificial intelligence. The founder of Tesla, SpaceX, and xAI, which owns the social media platform X, also met with Dubai’s Crown Prince Sheikh Hamdan bin Mohamed Al Maktoum, the chairman of the UAE’s Artificial Intelligence and Advanced Technology Council, and other key ministers.
Deepening Business Ties In The Gulf
Musk’s enterprises have established a significant and growing footprint across the Middle East. In Dubai, his infrastructure firm, The Boring Company, is developing the “Dubai Loop,” an ambitious underground transport system aiming to construct an initial 17km of tunnels.
The region’s sovereign wealth funds have also been key backers of his ventures. Saudi Arabia’s Kingdom Holding contributed nearly $2 billion towards Musk’s $44 billion acquisition of Twitter (now X) in 2022, while the Qatar Investment Authority invested $375 million.
Furthermore, SpaceX’s satellite internet service, Starlink, is gaining rapid traction with Gulf airlines, which are moving quickly to integrate its high-quality broadband capabilities for in-flight connectivity.
Eyes On A Landmark SpaceX IPO
The visit also brings renewed attention to the highly anticipated Initial Public Offering (IPO) for SpaceX, which is projected for 2026. Analysts suggest it could become the largest public offering in history, with a potential valuation of $1.5 trillion.
The UAE has already shown confidence in the aerospace giant. In 2022, two Abu Dhabi-listed firms, International Holding Company (IHC) and Alpha Dhabi, each invested $25 million in SpaceX, signaling strong regional interest in the company’s future.
About xAI
Founded by Elon Musk, xAI is an artificial intelligence company with the stated mission to understand the true nature of the universe. The company works closely with X (formerly Twitter), Tesla, and other entities to advance its goals.
Source: AGBI
