BUiD Hosts 3rd International Conference on Cyber Resilience (ICCR-2025)
the International Conference on Cyber Resilience (ICCR) is an annual academic gathering focused on advancing cyber resilience through research, education, and interdisciplinary collaboration. Hosted by BUiD, ICCR provided a global forum for exploring the latest scientific and practical approaches to safeguarding digital infrastructures. It brought together brilliant minds from academia and industry to collaboratively shape a safer digital future.'
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Jordan News
8 hours ago
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OpenAI Set to Sell Employee Shares at Massive $500 Billion Valuation - Jordan News
OpenAI Set to Sell Employee Shares at Massive $500 Billion Valuation OpenAI, the maker of ChatGPT, is seeking a staggering $500 billion valuation through a potential sale of employee shares, according to a source familiar with the matter. اضافة اعلان This valuation would mark a significant leap from the company's current $300 billion figure and reflects OpenAI's rapid growth in user base and revenue, as well as the intensifying competition among AI companies to attract top-tier talent. The source, who requested anonymity due to the private nature of the discussions, said the deal — likely to precede an initial public offering (IPO) — would allow current and former employees to sell shares worth several billion dollars. Soaring Revenue and User Growth Driven by its flagship product, ChatGPT, OpenAI has doubled its revenue in the first seven months of this year. The company is now operating at an annual run rate of $12 billion, with expectations to reach $20 billion by year-end, the source added. Backed by Microsoft (traded under ticker MSFT.O), OpenAI's user base has surged to around 700 million weekly active users, up from 400 million in February for its ChatGPT products. Follow-Up to Major Funding Round The share-sale discussions come in the wake of a major funding round announced earlier this year, during which OpenAI aimed to raise $40 billion, led by Japan's SoftBank Group (9984.T). According to the source, the rest of the funding was covered at a $300 billion valuation, while SoftBank has until the end of the year to contribute its $22.5 billion portion of the round. AI Talent War Intensifies Major tech firms are fiercely competing to attract top AI talent with lucrative compensation packages. For instance, Meta Platforms (META.O) is investing billions in Scale AI, reportedly in an attempt to recruit its 28-year-old CEO Alexandr Wang to lead Meta's new superintelligence unit. Unlisted companies such as ByteDance, Databricks, and Ramp have also utilized internal share sales to update their market valuations and reward employees with long-term incentives. Investor Interest and Corporate Restructuring Current OpenAI investors — including Thrive Capital — are reportedly in talks to participate in the employee share sale. Thrive Capital declined to comment. Bloomberg was the first to report the potential sale. OpenAI is also undertaking a major restructuring of its corporate framework, aiming to shift away from its current "capped-profit" model and pave the way for a potential future IPO. — Reuters
Al Bawaba
11 hours ago
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United Arab Bank Successfully Raises AED 1.03 billion through Rights Issue
United Arab Bank (UAB), listed on the Abu Dhabi Securities Exchange (ADX) announced the successful completion of its capital increase, which ended on July 29, 2025. The Rights Issue raised AED 1,031 billion increasing the Bank's issued capital from AED 2,062 billion to AED 3,093 billion. The newly issued shares were priced at AED 1 per share. All necessary regulatory approvals have been obtained for this Rights Issue was oversubscribed, underscoring UAB's robust fundamentals and strong performance as a result of the diligent execution of its turnaround strategy. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of the on the Rights Issue success, H.H. Sheikh Mohammed bin Faisal bin Sultan Al Qassimi, Chairman of the Board of Directors of United Arab Bank, said: 'We are deeply grateful for the trust and support of our shareholders in this Rights Issue. The strong response we have received will further strengthen our balance sheet, mark a new chapter in UAB's progress, and reaffirm our commitment to delivering value to our shareholders. In addition, it will enhance our financial resilience, and position us to continue contributing to the UAE economy and its sustainable development agenda.'He added: 'We also extend our sincere appreciation to the Central Bank of the UAE (CBUAE), the Securities and Commodities Authority (SCA), the Abu Dhabi Securities Exchange (ADX) and all our transaction partners whose support and collaboration were instrumental in ensuring the success of this Rights Issue.'Commenting on the announcement, Shirish Bhide, CEO of United Arab Bank, said: 'The success of the Rights Issue reflects the confidence that our shareholders have in the Bank and our future endeavours. This step represents an important milestone in strengthening UAB's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the next phase of our strategy, ensuring we are well-positioned to meet evolving regulatory requirements, support our clients' needs, and deliver sustainable returns to our shareholders.'UAB posted a net profit of AED 208 million for the first half of 2025, compared to AED 139 million for the same period last year, representing a 50% year-on-year increase. Total income rose by 24% year-on-year to AED 374 million. First Abu Dhabi Bank (FAB) acted as Lead Manager and Bookrunner of the Rights Issue and Al Tamimi & Co. acted as Legal Adviser.
Al Bawaba
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du partners with Microsoft, Nokia, Khalifa University, and ITU to Launch Region's First Arabic Telecom LLM for Operational Excellence
du, the leading telecom and digital services provider, has partnered with Microsoft, Nokia, Khalifa University's 6G Research Center, and the International Telecommunication Union (ITU) to launch a first-of-its-kind Arabic Telecom Large Language Model (LLM). This cross-sector partnership brings together global tech innovation, regional research leadership, and international policy guidance to co-create an AI model that serves critical telecom functions in Arabic—a first in the industry. The du Arabic Telecom LLM is tailored specifically for internal telecom operations and is designed to enhance the efficiency of du's processes while advancing the UAE's vision for sovereign AI breakthrough collaboration introduces an Arabic-language telecom assistant that supports du's internal teams by enabling real-time customer complaint handling, device issue resolution, and intelligent operational insights through culturally fluent and context-aware dialogue. The model is built to transform internal processes while ensuring alignment with linguistic precision and cultural nuances specific to the UAE AlBlooshi, Chief Technology Officer at du, said: " du Arabic Telecom LLM reflects our commitment to improving internal efficiency and customer experiences using advanced, culturally attuned solutions. Together with our esteemed partners, Microsoft, Nokia, Khalifa University and ITU, we are building a future where AI speaks our language, understands our context, and drives real operational transformation and impactful customer exp."Developed in the UAE, du Arabic Telecom LLM reflects the region's language and cultural standards, ensuring accurate and meaningful applications for internal telecom use across national critical infrastructure. Looking forward, this collaboration lays the groundwork for extending the model's capabilities beyond internal operations to include customer-facing functions and multilingual support, paving the way for broad sectoral innovation. du and its partners are dedicated to advancing this Arabic Telecom LLM as a benchmark for localized, responsible AI application in the telecom industry and beyond.
