#UAE's ADNOC boosts US investments, says AI once-in-a generation investment opportunity | Reuters

UAE's ADNOC boosts US investments, says AI once-in-a generation investment opportunity | Reuters

ADNOC chief Sultan al-Jaber said on Tuesday the state oil company of the United Arab Emirates was looking to grow its U.S. energy investments six-fold to $440 billion in the next 10 years.

"For us, the United States is not just a priority; it is an investment imperative," Jaber told an audience at a Washington event, adding that AI represented a once-in-a-generation investment opportunity.

Jaber pointed to the UAE's recent anchor investment in the largest liquefied natural gas plant in Texas, investments in petrochemical plants across the U.S. and a planned addition of 5.5 gigawatts of renewable energy and storage "from coast to coast."

He also said that UAE renewable energy firm Masdar and investment arm XRG have just opened an office in Washington, and called investment in the U.S. an "investment imperative."

Last month, during President Donald Trump's visit to Abu Dhabi, the U.S. and the wealthy Gulf state unveiled a massive artificial intelligence campus project set to contain a cluster of powerful data centers.

In March, when senior UAE officials met Trump, the UAE had committed to a 10-year, $1.4 trillion investment framework in the U.S. in sectors including energy, AI and manufacturing to deepen reciprocal ties.

Jaber said at the Washington event that the two countries should work toward a "coordinated roadmap" to ramp up AI development.

Mariam Almheiri, chair of the UAE international affairs office and CEO of 2PointZero, a UAE investment platform, said partnership with the U.S. across the AI supply chain is essential.

"The whole idea is scale, and it's so important to understand that time is not on our side," she said at the event.

Most Gulf markets in red over Israel-#Iran conflict worries | Reuters

Most Gulf markets in red over Israel-Iran conflict worries | Reuters

Most stock markets in the Gulf ended lower on Tuesday with investors cautious due to fighting between Iran and Israel that entered a fifth day, sparking fears of potential regional instability.

U.S. President Donald Trump, returning early from the G7 summit in Canada on Monday night, urged Iranians to evacuate Tehran. Iranian media reported explosions and heavy air defence fire in Tehran, and air raid sirens sounded in Tel Aviv in response to Iranian missiles.

Saudi Arabia's benchmark index (.TASI), opens new tab dropped 1.4%, weighed down by a 1% fall in Al Rajhi Bank (1120.SE), opens new tab and a 1.3% decline by oil behemoth Saudi Aramco (2222.SE), opens new tab.

Dubai's main share index (.DFMGI), opens new tab finished 0.6% lower, hit by a 1.2% fall in top lender Emirates NBD (ENBD.DU), opens new tab.

Investors are also watching for details from the U.S. Federal Reserve meeting scheduled to start later in the day, with a decision expected on Wednesday.

Traders are currently pricing in two cuts by the end of the year.

In Abu Dhabi, the index (.FTFADGI), opens new tab fell 0.5%.

The Iran-Israel conflict, meanwhile, drove oil prices higher, though major oil and gas infrastructure and flows have so far been spared from substantial impact.

The Qatari benchmark (.QSI), opens new tab lost 0.5%, with the Gulf's biggest lender Qatar National Bank (QNBK.QA), opens new tab retreating 0.8%.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab declined 1%, dragged down by a 4.7% tumble in investment bank EFG Holding (HRHO.CA), opens new tab.