Saudi Arabian Developer's $336 Million IPO Sells Out in Minutes
The real estate developer's shareholders will sell a 30% stake, or about 90 million shares, at between 13.5 and 14 riyals apiece, the people said, declining to be identified discussing private information. The top end of the range values the firm — better known as Almajdiah — at 4.2 billion riyals.
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2 Top Artificial Intelligence (AI) Stocks That Could Crush the Nasdaq
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Organizations around the world are still in the early innings of adopting AI, which spells more upside for investors. Nvidia's data center business is booming, with revenue up 73% year over year in its fiscal first quarter. The company provides chips for several markets, including gaming, professional graphic artists, and autonomous training systems for cars. But data center is its largest business, making up over 88% of the most recent quarter's revenue. Investors new to Nvidia should be encouraged to see management pointing to an expanding set of opportunities. For example, CEO Jensen Huang continues to talk about the opportunity in sovereign AI, where governments worldwide are starting to build their own AI systems for national security and dependence from foreign AI models. Spending on sovereign AI infrastructure is expected to reach $50 billion annually, according to Bank of America. 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Meta Platforms Meta Platforms has a strong competitive position in the digital economy, with over 3.4 billion people using its family of apps every day. The stock has nearly doubled the return of the Nasdaq over the past year, up 49% at the time of this writing. While its forward price-to-earnings multiple of 28 has stretched to the high end of its previous three-year range, the company's earnings momentum and progress in capturing growth outside of its core advertising business should justify a higher valuation. Meta is one of the top digital advertisers, with trailing-12-month revenue reaching $178 billion. Revenue growth has been impressive, up 22% year over year in Q2. Analysts expect earnings to grow at an annualized rate of 17% over the next several years, putting the stock on course to outperform the Nasdaq. 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We had a low mortgage and lived comfortably in Maryland but gave it all up for a fresh start in Georgia. I'm now divorced with a higher mortgage and regret.
My friend was selling her house in Georgia at a fraction of what ours had cost in Maryland. We bought the house and moved, but it wasn't the fresh start we were hoping for. We left, bought another house in Maryland, but eventually divorced. Hindsight is 20/20 — especially when I watch nearly $3,000 disappear from my bank account every month for a mortgage that should be nearly paid off by now. The reason I'm in this financial mess? A well-meaning but costly move to Georgia that changed the course of my life. It was 2000. My (now ex-) husband and I had two little boys — ages 1 and 2 — and we had just upgraded from a townhouse to a single-family home outside Baltimore, Maryland. It was a split-foyer with a third of an acre, mature trees, and a sunroom I loved. We put a wooden swing set with a slide and a little treehouse in the backyard for the boys. Life was comfortable. We'd bought the house for $153,000, so the mortgage was low. I stayed home with our sons and my stepson. My husband co-owned a restaurant with his brother. We were close to both sides of the family, could take quick trips to the beach or the mountains, and spent summers in my dad's pool. Then I visited a friend in Georgia. We moved to Georgia for a fresh start My friend was selling her home for a fraction of what ours would fetch, and when I mentioned the price to my husband, he got excited. He was unhappy at the family restaurant and saw a move as both a fresh start and a way to cut our cost of living. We sold our home and bought a $111,000 rancher in the Augusta area. At first, it was idyllic: beautiful parks, bike trails, and lakes; friendly neighbors; and weekends at Clarks Hill Lake or Savannah Rapids. We took trips to Charleston and Myrtle Beach. But the honeymoon was short. My husband disliked his new job almost immediately, and the one after that, too. That was my first big lesson: if you're perpetually dissatisfied, a new city or job won't fix it. And in Augusta, good jobs weren't exactly falling from the sky. Meanwhile, life back in Maryland was moving on without us. His grandfather was dying of cancer. My stepson was about to become a father. My brother got engaged and married. Each milestone meant a choice: drive 11 hours with two young children to visit, or stay home? Those drives included breaking down on the highway, going back to Georgia with just me and the children, 200 miles from home, and a car pillow fight that knocked out a tooth. There's nothing quite like cruising at 75 mph (yes, I speed) and hearing one child shout, "Mommy, pull over, Ben's mouth is bleeding!" Traveling with toddlers is… well, character-building. Eventually, we moved back. We couldn't get a similar house for a similar price Going from our low-cost-of-living area in Georgia back to a higher one in Maryland was a whole different game. The median sale price for homes in Anne Arundel County when we left in 2004 was $253,000. When we returned in 2009, it was $351,088. Instead of immediately buying a new home this time, we moved in with my in-laws for a few months (which I can confirm is not on any list of Top 10 Marriage-Building Activities) before renting a townhouse. We eventually bought a house that cost more than $100,000 above the one we'd sold in Georgia. It was also smaller, older, and more outdated. Did you know home projects aren't exactly conducive to a stress-free marriage? The financial toll was enormous. My husband was making less money than he did in Georgia, while we had higher monthly expenses, which caused me to go back to work. It's not that I don't love packing and moving three times in five years — people used to ask if we were in the military — and racking up frequent driver miles on I-95, but let's be honest: moving is not fun. The stress of moving three times, the strain of living with extended family, and a much larger mortgage all chipped away at our marriage. Eventually, we divorced. The experience taught me an important life lesson Count the costs before you decide to move. Everything comes with pros and cons, and if you're making a multi-state move, make sure you've considered the drawbacks. Even if your spouse says you're being "annoyingly negative," consider them carefully. I don't dwell on regrets — after all, we shouldn't look back; we aren't going that way — but I do pay for them, every single month. So I keep my eyes forward, click "submit payment" on that mortgage, and try to remember the lessons. Read the original article on Business Insider Solve the daily Crossword
Bloomberg
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BlackRock Hands Saudi Arabia an $11 Billion Win
Welcome to the Mideast Money newsletter, I'm Adveith Nair. Join us each week as my team and I chronicle the intersection of money and power in a region that's become one of the most influential in global finance. You can sign up here. This week: Dubai's booming housing market is shrugging off the ghosts of 2009, and the Middle East is emerging as an investment powerhouse despite the shadow of war. But first, over to Dinesh Nair on BlackRock's $11 billion Saudi deal.
