Elon Musk says he's committed to still be Tesla's CEO in five years' time
Dubai, united arab emirates
to view this content.
Tickers mentioned in this story
Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 20/05/25 10:52am EDT.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
National Post
a day ago
- National Post
Multiply Group Lights up the World With the Launch of Multiply Media Group, Creating a Media Powerhouse Headquartered in the UAE
Article content Multiply Media Group (MMG) combines BackLite Media, Viola Media and Media 247 to operate one of the UAE's largest and most premium outdoor portfolios with 3,000 units Newly consolidated media group will serve as a launchpad to capture regional and global opportunities in the media sector, including Saudi Arabia, the UK, Europe and the U.S. MMG to redefine the region's media landscape through innovation, scale and strategic partnerships MMG launched at World Out of Home Organization (WOO) Annual Congress in Mexico City Article content ABU DHABI, United Arab Emirates — Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company, today launches Multiply Media Group (MMG), uniting the three market-leading out-of-home (OOH) companies under its portfolio to create a new media powerhouse headquartered in the UAE. The combination of BackLite Media, Viola Media and Media 247 under Multiply Media Group represents a significant move that will shape the future of tech-enabled media in the UAE and beyond. Article content Article content Samia Bouazza, GCEO and Managing Director of Multiply Group, Article content 'The launch of Multiply Media Group represents the most significant media consolidations in the UAE. By bringing together market-leading media assets under a single AI & tech-driven group, we are reinforcing our commitment to long-term value creation and shareholder returns. MMG lays a strong foundation for our global ambitions Article content and forward-looking investment strategy.' Article content MMG was launched at the World Out of Home Organization (WOO) Annual Congress in Mexico City, and simultaneously it lit up the world through a global takeover across key DOOH media, illuminating cities and screens worldwide with its bold presence. The move reflects the global expansion of Multiply Group, the $7.2 billion holding company, which is part of IHC, the most valuable holding company in the Middle East with a market cap of over $240 billion. The newly consolidated group will serve as a launchpad to capture regional and international opportunities arising in the media sector through MMG portfolio businesses. Article content MMG will drive performance and innovation across the OOH media sector, reshaping the UAE's media landscape through scale, AI, and strategic partnerships. To achieve its mission, MMG will invest in high-potential media assets, catalyse growth with innovation and create synergies across its portfolio through strategic investments. Article content Jawad Hassan, Head of Media and Communications Vertical at Multiply Group, Article content : 'For several years, Multiply Group's ambitious growth strategy for the media sector has taken us from an integrated portfolio of three industry leaders to a media powerhouse with vast potential to redefine the entire regional media landscape in ways that will bring immediate impact and long-term value for clients. Through MMG, we stand ready to embrace the emerging trends in our industry, particularly the transformative role of AI, and we will continually look to invest in technologies that enable us to create dynamic and innovative campaigns.' Article content The scale of MMG includes 3,000 advertising units across the UAE, including 75+ premium assets on Dubai's Sheikh Zayed Road, which are backed by long-term partnership agreements with the Road and Transport Authority (RTA) (Mada Media) in Dubai and The Department of Municipalities & Transport (DMT) in Abu Dhabi. Article content 'Multiply Media Group launches as a transformative force in out of home media — a powerhouse that unites some of the region's most strategic media assets under one bold vision. With MMG, we are not simply scaling up — we are scaling intelligently. Our mandate is clear: deliver context at scale, and reach audiences where it truly matters, when it matters most. MMG is engineered to be agile, data-led, and deeply integrated, enabling our clients to engage audiences with greater relevance, responsiveness, and resonance than ever before. This is more than media — it's momentum.' Article content The launch of MMG follows a recent strategic agreement between Multiply Group's media vertical and Al Arabia, Arabian Contracting Services Company (Al Arabia) to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector. Multiply Group, also announced a recent Memorandum of Understanding (MoU) with Saudi Media Company (SMC) – with these two strategic moves underscoring the global expansion potential of Multiply's portfolio brands. Article content Multiply Group's other media holdings include Yieldmo, a contextual mobile ads platform, and Firefly, North America's leading digital Taxi-Top company. The group completed the acquisition of Viola Communications, a marketing and communications firm, in 2021. Article content ABOUT MULTIPLY GROUP Article content Multiply Group PJSC is an Abu Dhabi-based investment holding company that globally invests and operates in transformative, cash-generating businesses. Article content Known for its trademark growth mindset, Multiply Group will continue to deploy capital across its two distinct arms, both of which follow a disciplined approach to investing and ensure consistent, sustainable value creation for our shareholders in the short-, medium- and long-term: Article content Multiply, the investments and operations in long-term strategic verticals, currently investing and operating in Mobility, Energy & Utilities, Media & Communications, Wellness & Beauty, and Retail & Apparel. Anchor investments provide long-term recurring income, through which bolt-on acquisitions are made. Article content Multiply+, the Group further engages in opportunistic, sector-agnostic investments, via mainly minority stakes in private and public markets. Article content For more information, visit ABOUT Multiply Media Group Multiply Media Group (MMG) is a media powerhouse committed to driving performance and innovation across the sector. Our ambition is limitless, but our approach is precise. We invest in high-potential media assets, catalyse growth through innovation, and create synergy across our portfolio through strategic investment and smart leadership. Article content MMG includes BackLite Media, Viola Media, Media 247, and Purple Printing. Together, they form an integrated ecosystem built to deliver scale, precision, and sustained value. Article content MMG provides the clarity required to lead meaningful transformation in the industry. Through targeted investment in technology, talent, and innovation, we develop future-ready products and services — anticipating client needs before they emerge. By aligning capabilities across the group, we multiply impact, accelerate innovation, and drive long-term growth. Article content Article content Article content Contacts Article content Wassim El Jurdi Article content Article content Multiply Group Article content Article content +971561059595 Article content Article content wassim@ Article content Rawad Khattar Article content Article content Weber Shandwick Article content Article content Article content
![Savvylong [2X] Tsla ETF](/_next/image?url=https%3A%2F%2Fwww.theglobeandmail.com%2Fpf%2Fresources%2Fassets%2Fmeta%2Ftwitter-summary-240x240.png%3Fd%3D707&w=3840&q=100)
![Savvylong [2X] Tsla ETF](/_next/image?url=https%3A%2F%2Fstatic-mobile-files.s3.eu-central-1.amazonaws.com%2Fglobe-and-mail.png&w=48&q=75){kind=small}
Globe and Mail
2 days ago
- Globe and Mail
Savvylong [2X] Tsla ETF
Day Low 12.76 Day High 17.96 Open: 17.96 Price movement based on the high, low and last over the given period.
Globe and Mail
3 days ago
- Globe and Mail
Nvidia Is Once Again the Most Valuable Company in the World. Is It Too Late to Buy NVDA Stock?
Nvidia (NVDA) shares remain in focus this morning following news the artificial intelligence behemoth has surpassed Microsoft (MSFT) again to reclaim the title of the world's most valuable company. NVDA shares have been in a sharp uptrend in recent weeks mostly because the U.S. and China agreed to a 90-day trade truce on May 12. Additionally, the chipmaker's encouraging fiscal Q1 earnings and sizable AI deals it has recently secured from UAE and Saudi Arabia have been contributing to sustained momentum as well. Together, these tailwinds have pushed Nvidia stock up some 60% since early April. Is There Any Upside Left in Nvidia Stock? While the massive surge in NVDA stock over the past two months makes some wonder if now is a suitable time to pull out of it, Wedbush remains convinced that its recent gains may prove a drop in the bucket compared to where it's headed eventually. Wedbush senior analyst Dan Ives reiterated the AI stock as a 'top idea' in his research note this morning, adding it remains one of the best names to play what he sees as the fourth industrial revolution. Ives is convinced that the chipmaker's intermediate-term growth profile remains strong, 'bolstered by ramping Blackwell projects and large private and sovereign AI investments.' NVDA Could Be Headed for $5 Trillion Valuation Wedbush analyst Dan Ives sees Nvidia's current market cap of just under $3.5 trillion as only the beginning. In a recent interview with Schwab Network, he dubbed the company's hardware the 'godfather of AI,' adding the AI darling could hit $4 trillion valuation, even $5 trillion within a few years. His long-term price target on Nvidia stock currently sits at $250, which indicates potential upside of nearly 75% from current levels. Ives sees tariff-related volatility as manageable and expects NVDA to remain a key beneficiary as global artificial intelligence investments expand from chips into software, robotics, and even autonomous systems. Wall Street at Large Remains Positive on NVDA Shares Wall Street analysts have been raising their estimates for NVDA shares in recent weeks, but the mean target on this AI stock is nowhere near what Ives is forecasting at the time of writing. On average, Street sees upside in Nvidia stock to $173, which translates to potential for another 23% upside from here.
