UAE President holds talks with Musk and Fink on AI and space

UAE President Sheikh Mohamed bin Zayed Al Nahyan held talks with SpaceX founder Elon Musk and BlackRock chairman Larry Fink on potential opportunities in artificial intelligence (AI) and the space sector. 

Musk spoke with the Emirati leader by telephone, the UAE state-run Wam news agency reported. They also discussed global collaboration and knowledge-sharing to accelerate developing advanced technologies. 

Fink met with Sheikh Mohamed in person in Abu Dhabi on Wednesday, discussing global trends, the growing role of AI and the development of advanced technologies to support investment and economic growth, Wam reported.

No other details of the meetings were disclosed.

This month, analysts told AGBI that the size and breadth of the forthcoming SpaceX listing make it an irresistible play for Gulf sovereign wealth funds and other regional investors.

SpaceX, which is targeting a $1.75 trillion valuation, encompasses Musk’s rocket and satellite programmes, as well as his AI endeavours after SpaceX merged with xAI in early February.  

Abu Dhabi-listed International Holding Company (IHC) and Alpha Dhabi Holding put $25 million each into SpaceX in June 2022.

Further reading:

• Gulf likely to be all in on SpaceX IPO
• SpaceX ‘holds talks’ with PIF over $5bn stake in IPO
• Starlink begins UAE service against backdrop of Iran war

IHC – the Middle East’s largest listed holding company – is part of a business empire overseen by its chair, Sheikh Tahnoon bin Zayed Al Nahyan, a brother of Sheikh Mohamed. 

Sovereign wealth fund Mubadala invested $436 million in BlackRock’s bitcoin exchange-traded fund, acquiring 8.2 million shares in the iShares bitcoin ETF during the fourth quarter of 2024.
IHC announced in May 2025 plans to establish a $1 billion local AI-driven reinsurance platform with BlackRock, which is the world’s largest asset manager.