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Mid East Info
5 hours ago
- Business
- Mid East Info
Sam Altman, Brad Smith and 2,400+ Attendees Join G42's ‘Supercharged' AI Summit - Middle East Business News and Information
Celebrated G42's 7th anniversary and its rise as a global AI leader, now 25,000+ employees strong worldwide Top headline sessions featured UAE leaders, including H.E. Mansoor Al Mansoori, in health, cybersecurity, space, and youth development Focus was on Responsible AI, and AI for Good, particularly how the 'Intelligence Grid' must include the Global South Abu Dhabi, UAE – June 2025: Earlier this week, G42's flagship event, Supercharged , concluded in Abu Dhabi with record-breaking scale and ambition, bringing together over 2,400+ employees, partners, and global leaders for a day of boundary-pushing dialogue and collaboration. Marking seven years since G42's founding, this year's edition celebrated the group's evolution into a global AI leader, highlighting major milestones such as the launch of Stargate UAE and the 5GW UAE–U.S. AI Campus. Framed around the theme 'Building the Intelligence Grid: The Present and Future of AI-Enabled Civilizations,' the event explored how G42 is turning AI into a real-world super-utility: always on, always learning, and designed to serve. The day featured headline conversations with global tech leaders including Microsoft President Brad Smith and OpenAI CEO Sam Altman, who both joined virtually, alongside influential voices from across government, industry, and science, such as H.E. Mansoor Al Mansoori, Chairman of the Department of Health (DoH) – Abu Dhabi, H.E. Mohamed Al Kuwaiti, Head of Cybersecurity at the UAE Government, H.E. Eng. Salem Butti Salem Al Qubaisi, Director General, UAE Space Agency, H.E. Ahmed Al Shamsi, CEO of Emirates Foundation, and H.E. Ibrahim Al Jallaf, Executive Director of Digital Health, DoH – Abu Dhabi. International Partnerships OpenAI, Microsoft Endorse G42 Partnership Caption: Sam Altman, Chief Executive Officer of OpenAI, speaking live to Peng Xiao at Supercharged Caption: Brad Smith, Vice Chair and President of Microsoft, speaking to Peng Xiao as part of a pre-recorded session In addition to speaking about Artificial General Intelligence (AGI), Sam Altman, CEO of OpenAI, also reflected on the early partnership with G42. He noted that G42 recognized the vast potential of AI to become a platform more transformative than anything before it, and understood that building such a platform would require a fundamentally different approach, one designed to bring intelligence to billions of people around the world. Meanwhile, Brad Smith, Vice Chair & President of Microsoft, and G42 Board Member, emphasized that the $1.5 billion investment in G42 was more than a financial decision, it was a deliberate commitment to a company, its people, and a broader partnership with the UAE. He noted that both he and Microsoft CEO Satya Nadella believe in the strength of the relationship with G42 now more than ever, two years into the journey. Business Update Building the 'Intelligence Grid' Caption: Peng Xiao, Group Chief Executive Officer of G42, providing a birds-eye-view of G42's startegic priorites In a sweeping and deeply reflective keynote address, G42 Group CEO Peng Xiao called on global partners and employees to embrace artificial intelligence as humanity's most consequential opportunity, and responsibility. Against a backdrop of geopolitical tension and scientific possibility, Xiao urged the audience to see AI not merely as a technological tool, but as an alternative form of intelligence capable of elevating civilization itself. 'We are entering the golden age of intelligence,' he said, pointing to the convergence of infrastructure, compute, and talent as key to unlocking AI's full societal impact. He highighted that central to G42's future is the Stargate UAE project, and the recently announced 5GW UAE-U.S. AI campus. As G42 marks its seventh anniversary, Xiao positioned the company not as a technology vendor, but as a system-level architect for an AI-powered future, one that requires global cooperation, relentless innovation, and an unwavering commitment to human meaning, purpose, and progress. During the event, Xiao remarked that he would prefer AI to stand for 'Alternative Intelligence' or 'Accelerated Intelligence', reflecting a more dynamic and human-centric view of the technology's potential, rather than the commonly used term 'Artificial Intelligence.' Catalyst Award Marty Edelman receives first Catalyst Award Caption: Peng Xiao, Group Chief Executive Officer at G42, and Faheem Ahamed, Group Chief Marketing and Communications Officer at G42, are handing the first-ever Catalyst Award to Marty Edelman for his lifetime achivements Marty Edelman, G42's Group General Counsel and a long-time advisor to Abu Dhabi's leadership, was honored with the first-ever G42 Catalyst Award , a lifetime achievement recognition celebrating Edelman's pivotal role in shaping G42's most consequential global partnerships. From forging foundational ties with U.S. technology leaders like Microsoft and OpenAI to co-chairing the newly launched G42 Europe & UK unit, Edelman has helped anchor the company's international credibility and strategic reach. As recently highlighted in Bloomberg , Edelman is recognized as a rare and trusted voice helping bridge U.S. and UAE interests, a 'catalyst' behind G42's most ambitious global moves. In response to receiving the award and highlighting the importance of a human centric approach to the development of AI, Marty Edeman maintained, 'progress without purpose, and purpose without values, is a race with no finish line. As we navigate an era shaped by visionary leaders like Peng and Sam it's vital to remember that without us, there is no them. Leadership matters, but so does followership. I'm proud to be the number one follower of our CEO, and grateful to learn something new every single day.' Healthcare & Longevity 'Healthy living should be a birthright, not a privilege', says H.E. Mansoor Al Mansoori Caption: H.E. Mansoor Al Mansoori, Chairman of DoH-Abu Dhabi, speaking about how Abu Dhabi is building the most advanced health system Caption: Panel with leading experts from DoH – Abu Dhabi, Singularity University, Cleveland Clinic Abu Dhabi, and M42 H.E. Mansoor Al Mansoori, Chairman of DoH – Abu Dhabi, set the tone for the longevity conversation, declaring that extended, healthy living should be a birthright, not a privilege. He detailed how Abu Dhabi is building one of the world's most intelligent health systems, integrating AI, genomics, and population-wide data to predict, prevent, and personalize care long before symptoms appear. From lowering cancer screening ages to redesigning neighborhoods for better well-being, he emphasized that healthspan is being extended by design, not chance. Joining him, H.E. Ibrahim Al Jallaf spotlighted the Department's real-time, AI-powered approach to health risk management, while Dr. Georges-Pascal Haber, CEO of Cleveland Clinic Abu Dhabi, urged a shift from 'caring for the sick to caring for life.' Dimitris Moulavasilis, CEO of M42, showcased how AI, wearables, and genomics are already driving lower mortality and precision care across their global network, proof that intelligent health infrastructure is already saving lives. Meanwhile, Dr. Tiffany Vora, a pioneer in longevity science from Singularity University, challenged the audience to rethink aging and equity in healthcare. She called for global collaboration and inclusive innovation to make longevity a public good. Sector Focus Goverment, Energy, and Space Caption: H.E. Mohamed Al Kuwaiti, Head of Cyber Security of the UAE, on stage lauding the UAE's recent successes in the space of cyper security Caption: Magdalena Konig, General Counsel at AIQ, Chris Midgley, SVP External Environment at ADNOC, Hassan Alnaqbi, CEO of Khazna Data Centers, and Andy Hock, Chief Product and Strategy Officer, Cerebras Systems (virtually) Caption: Talal Al Kaissi, EVP Chief Government Affairs & Partnerships Officer at Core42, H.E. Eng. Salem Butti Salem Al Qubaisi, Director General, UAE Space Agency, Greg Wyler, CEO of E-Space, and Karim Sabbagh, MD of Space42 H.E. Mohamed Al Kuwaiti, Head of Cyber Security for the UAE, highlighted the nation's recent milestones in cybersecurity and its growing global leadership in digital trust and resilience. H.E. Eng. Salem Butti Salem Al Qubaisi, Director General of the UAE Space Agency, joined the session 'Intelligence From Space: The New Frontiers on Earth' to share how space-based intelligence is driving progress across key sectors. Other key discussions included 'AI-Native Nations: Smarter Lives Unlocked,' which explored how countries are embedding AI into national systems, and 'The AI Energy Nexus: Long Live Electric Dreams,' focusing on how AI is revolutionizing the future of clean energy. Technology We are seeing a shift to 'Tech Made in Abu Dhabi' Caption: Alex Kipman, Founder and Chief Executive Officer of Analog on stage at Supercharged Caption: Robots dancing in-sync to Queen's 'Don't Stop Me Now' on stage Bridging the physical and digital world, Alex Kipman, the visionary founder of Analog and former Microsoft executive behind HoloLens, declared that 'Abu Dhabi is no longer importing innovation, it's producing it.' Part of the G42 ecosystem, Kipman is leading Analog to develop AI-native, edge-computing technologies that are built in Abu Dhabi and designed for the world. His remarks underscored the UAE's shift from tech consumer to tech creator, with Analog at the forefront of building smart systems across mobility, energy, healthcare, and urban infrastructure. Kipman showcased live demos of Analog's latest AI-native, edge-computing solutions, highlighting how the UAE is building technology for global deployment. In a crowd-pleasing moment, eight robodogs performed a perfectly synchronized dance to Queen's 'Don't Stop Me Now,' offering a glimpse into the immersive, real-world applications of Analog's tech. Responsible AI Building Responsible AI for an Inclusive Future Caption: Faheem Ahamed, Group Chief Marketing and Communications Officer, H.E. Ahmed Al Shamsi, CEO of Emirates Foundation, Baroness Joanna Shields, CEO of Precognition, Dr. Andrew Jackson, Group Chief Responsible AI Officer at G42, and Natasha Crampton, VP Chief Responsible AI Officer (virtually) A powerhouse panel led by Faheem Ahamed tackled one of the most pressing challenges of our time on how to embed responsibility into AI by design. H.E. Ahmed Al Shamsi emphasized the UAE's proactive approach to using AI as a tool for preserving and amplifying culture, while Dr. Andrew Jackson highlighted how G42 is localizing large language models to represent voices from the Global South. Meanwhile, Baroness Joanna Shields called for governance to be hardwired into AI systems from the start, not as an afterthought but as a foundation for inclusive progress. Joining remotely, Microsoft's Chief Responsible AI Officer Natasha Crampton shared how close collaboration with G42 is helping scale responsible AI practices globally. The session also spotlighted the upcoming initiatives by the Responsible AI Future Foundation and the AI for Good Lab, including Bee:Wild and climate-focused AI tools, culminating in a global convening on November 5 in Abu Dhabi. AI for Good G42 airs teaser of Bee:wild documentary supported by Angelina Julie, Ellie Golding, and Leonardo Di Caprio Caption: Faheem Ahamed, Group Chief Marketing and Communications Officer, presenting Bee:Wild's latest documentary on stage. In a powerful session on responsible AI, G42's Faheem Ahamed unveiled the story behind Bee:wild, a unique and first-of-its-kind initiative that applies frontier technologies to an urgent ecological crisis: the collapse of global pollinator populations. From deploying geospatial intelligence via Space42 to decoding pollinator biology through M42's multi-omics platforms, Bee:Wild exemplified how AI can serve both planet and people. Supported by a growing global coalition, including social impact filmmakers and voices like Angelina Jolie and Leonardo DiCaprio, the initiative aims to make the science accessible, the data actionable, and the story unforgettable. 'Responsible AI means more than smart systems, it means conscious contribution,' said Faheem Ahamed, Group Chief Marketing and Communications Officer at G42. 'Bee:wild is proof that AI can do more than disrupt, it can restore. It's a reminder that intelligence without intent is just code, but intelligence with care can change the world.' Human Capital & Talent AI-Powered Teams, Not Titles, Define Work Caption: Maymee Kurian, Group Chief Human Capital & Culture Officer Caption: Josh Bersin, HR thought leaders joined virtually speaking to Maymee Talking to Maymee Kurian Group Chief Human Capital & Culture Officer at G42 about AI-first organizations, global HR thought leader Josh Bersin joined virtually to explore how AI is transforming the operating system of modern organizations, from rigid hierarchies to dynamic, team-based models. Bersin introduced the concept of the 'super worker', individuals empowered by AI to move fluidly across projects, guided by skills and purpose, not job titles. He emphasized that while AI may automate routine tasks, it amplifies the importance of complex problem-solving, human empathy, and creative thinking. For fast-moving, AI-powered companies like G42, Bersin advised embracing agile talent systems, prioritizing cultural alignment in partnerships, and building a resilient, purpose-driven culture. In a world of intelligent machines, human adaptability, curiosity, and emotional intelligence will remain the strategic edge. Marketing & Branding G42 unveils brand refresh and new Intelligence Grid Immersive Digital Experience G42 unveiled a light brand refresh and introduced its upcoming AI-powered website, designed to deliver fully intuitive, personalized experiences. Launching later this year, the platform will use advanced voice and text prompting to guide users through tailored content, bringing G42's Intelligence Grid 2.0 to life as a truly personal interface for discovery and insight. Event Management G42 brings the largest ever screen and the most advanced sound system to the UAE Caption: A view of the 150m mega LED screen from the back of the event Supercharged 2025 delivered many firsts, but none more striking than the immersive experience created through visuals and sound. The event set a new benchmark in the region for production quality, combining stadium-scale engineering with brand storytelling. At its heart: 150 meters of LED screen across five main displays, with a resolution of 34,800 pixels (the equivalent of ten 4K TVs in a row). Eight custom-built kinetic triangles, representing G42's portfolio companies, were suspended on a concert-grade Kinesis rig, flying and rotating in choreographed formations, an ambitious feat usually reserved for global music acts. On the audio front, Supercharged featured the UAE's largest-ever installation of the d&b Soundscape system, delivering hyper-precise 3D audio far beyond the capabilities of Dolby Atmos. This allowed sound to move fluidly across the venue, syncing perfectly with the visuals for a fully immersive environment. The entire production, executed by a 535-person, setting a new standard for what corporate events can be. Employee Engagement 2,400+ Employees and Partners wanted to hear from Peng Caption: (left) Aerial view of the stage where Peng Xiao held his keynote speech; (right) five lucky UAE university students met G42's Group CEO backstage The event concluded with Peng Xiao taking a selfie with over 2,400 UAE-based employees and global partners, capturing the energy of a crowd three times the size of previous Supercharged events. Until midnight, guests then enjoyed a curated Global Food Grid dinner, followed by live performances from David Chesky, and DJ Raphy J, transforming the venue into G42's biggest celebration yet. In the spirit of fostering local talent and sparking interest in the field of AI, five university students joined the attendees through a competitive application process designed to identify emerging talent from across the UAE. About Supercharged 2025: On June 26, 2025, G42 hosted its latest edition of its AI Summit, Supercharged , at ADNEC, Abu Dhabi, UAE. It was a day when intelligence met intent. With over 2,400 participants, it brought together the full spectrum of G42's ecosystem: employees, global partners, public sector leaders, technologists, and the thinkers reshaping what AI means in the real world. This wasn't a typical tech event. It was where conversations went deeper and more personal. Where principles met pressure-testing. And where participants challenged one another to move from potential to practice – safely, responsibly, and in service of the public good. This year's theme, 'Building the Intelligence Grid: The Present and Future of AI-Enabled Civilizations,' reflected a fundamental shift in the role of AI. At the centre of that shift was the Intelligence Grid – a distributed network of data centres, compute capabilities, cloud infrastructure, cybersecurity services, and AI models designed to plug into real-world needs across healthcare, energy, mobility, and more. Turning AI into a super-utility: always on and accessible, always learning, and designed to serve and scale. Throughout the day, from keynotes and panels to informal conversations, participants explored how intelligence is becoming the connective tissue of modern life. The program ran from 8:30 a.m. to 7:00 p.m., followed by dinner and evening entertainment. Because Supercharged wasn't just about what was said on stage, it was about the ideas that emerged offstage. The ones shaping what's next. Curated Highlights: To better support editors and journalists covering distinct news verticals, we've distilled key moments from Supercharged 2025 into three thematic categories: Business & Technology, Lifestyle, and UAE News (more information for each can be found in the corresponding sections above or shared by our agency). Business & Technology Supercharged 2025 spotlighted G42's evolution into a global AI systems architect, with fireside chat appearances by Microsoft's Brad Smith and OpenAI's Sam Altman, reinforcing strategic alignment. Central to the event was G42's vision for the 'Intelligence Grid,' a distributed network of AI models, data centers, and compute infrastructure already taking shape through initiatives like Stargate UAE and the 5GW UAE–U.S. AI Campus. The summit also featured breakthroughs from AI-native firm Analog and G42's new Intelligence Grid interactive and immersive experience. UAE News High-level UAE leadership played a central role at the event, with H.E. Mansoor Al Mansoori (DoH), H.E. Mohamed Al Kuwaiti (Cybersecurity Council), and H.E. Eng. Salem Al Qubaisi (UAE Space Agency) all contributing insights. The program demonstrated Abu Dhabi's commitment to global leadership in health, space, cybersecurity, and responsible AI. Additionally, H.E. Ibrahim Al Jallaf, Executive Director of Digital Health, DoH – Abu Dhabi and H.E. Ahmed Al Shamsi, CEO of Emirates Foundation, attended dedicated sessions. High-level UAE leadership played a central role at the event, with H.E. Mansoor Al Mansoori (DoH), H.E. Mohamed Al Kuwaiti (Cybersecurity Council), and H.E. Eng. Salem Al Qubaisi (UAE Space Agency) all contributing insights. The program demonstrated Abu Dhabi's commitment to global leadership in health, space, cybersecurity, and responsible AI. Additionally, H.E. Ibrahim Al Jallaf, Executive Director of Digital Health, DoH – Abu Dhabi and H.E. Ahmed Al Shamsi, CEO of Emirates Foundation, attended dedicated sessions. Lifestyle Beyond AI, Supercharged 2025 offered a fully immersive cultural and sensory experience with a curated 'Global Food Grid' dining journey, live performances by David Chesky, and a trailer for the Bee:wild documentary, which features Angelina Jolie and Ellie Goulding. Now part of Re:wild, Leonardo DiCaprio's conservation NGO, the initiative highlights global efforts to protect pollinators and biodiversity. It was a celebration of creativity, sustainability, and tech-driven storytelling. Full Days Agenda: Time Agenda Item Session Title Speakers 08:00 09:00 ARRIVAL OF GUESTS 09:00 09:10 Intro & Welcome 'Welcome to Supercharged' Faheem Ahamed, Group CMO, G42 09:10 10:00 Keynote 'G42 Journey and Future of Industry' Peng Xiao, Group CEO, G42 10:00 10:30 Fireside Chat 'The Intelligence Grid: Lives Lifted Everywhere' Peng Xiao, Group CEO, G42, Brad Smith, President and Vice Chairman, Microsoft 10:35 11:30 BREAK 11:30 12:00 Panel 'The AI Energy Nexus: Long Live Electric Dreams' Moderated by Magdalena Konig, General Counsel, AIQ Hassan Alnaqbi, CEO, Khazna Chris Midgley, SVP, Energy Intelligence & Outlooks, ADNOC Andy Hock, Chief Product & Strategy Officer, Cerebras Systems 12:00 12:05 Opening Remarks 'The Intelligence to Live Longer, Better' H.E. Mansoor Ibrahim Al Mansoori, Chairman, Department of Health – Abu Dhabi 12:05 12:45 Panel 'The Leap to Longevity: Forever Healthy' Moderated by Amandeep Bhangu, Presenter & Moderator Voice Media London H.E. Ibrahim Al Jallaf, Executive Director of Digital Health, Department of Health – Abu Dhabi Dr. Tiffany Vora, Expert & Singularity Fellow in Biotechnology, Singularity University and Non-resident Senior Fellow at the GeoTech Center for the Atlantic Council. PhD. Georges-Pascal Haber, CEO, Cleveland Clinic Abu Dhabi Dimitris Moulavasilis, CEO, M42 12:45 13:15 Panel 'Intelligence From Space: The New Frontiers on Earth' Moderated by Talal M. Al Kaissi, EVP, Chief Government Affairs & Partnerships Officer – Core42 & Group Chief Global Affairs Officer, G42 Karim Sabbagh, MD, Space42 H.E. Eng. Salem Butti Al Qubaisi, Director General, UAE Space Agency Greg Wyler, Founder, CEO & Chief Architect, E-Space 13:15 15:05 LUNCH BREAK 15:05 15:45 Panel 'AI-Native Nations: Smarter Lives Unlocked' Moderated by Brian Lott, Group Chief Communications Officer, Mubadala Opening Remarks by H.E. Dr. Mohamed Hamad Al Kuwaiti, Head of the UAE Cybersecurity Council Thomas Pramotedham, CEO, Presight Kiril Evtimov, Group CTO, G42 & CEO, Core 42 Rod Solaimani, Middle East Policy & Partnerships Lead, OpenAI 15:45 16:25 Panel 'Responsible Intelligence: Igniting The Future' Moderated Faheem Ahamed, Group CMO, G42 H.E. Ahmed Al Shamsi, CEO, Emirates Foundation Andrew Jackson, Group Chief AI Officer Baroness Joanna Shields, Founder and CEO of Precognition Natasha Crampton, VP, Chief Responsible AI Officer, Microsoft 16:25 16:30 Bee:Wild documentary presentation Faheem Ahamed 16:30 17:30 BREAK 17:30 18:00 Keynote 'The AI-Physical AI Revolution: More Than Humans' Alex Kipman, CEO, Analog 18:00 18:30 Fireside Chat 'AI First Organizations: Augmented Thought Leadership' Maymee Kurian, Group Chief Human Capital & Culture Officer, G42 Josh Bersin, Founder and CEO, The Josh Bersin Company 18:30 19:00 Closing Remarks Peng Xiao, Group CEO, G42 Sam Altman, Founder and CEO, OpenAI 19:00 21:00 DINNER Across breakfast, lunch, dinner, and everything in between, Supercharged guests will experience the Global Food Grid – a curated culinary journey celebrating the richness of global traditions. Guests can choose between four immersive dining paths, each inspired by a different region of the world: the Middle East and India, the Americas, Europe, and Asia. Performance by acclaimed composer David Chesky and his Jazz Trio band 21:00 00:00 EVENING ENTERTAINMENT 9:00 PM – 9:45 PM Raphy J, an Amsterdam-born open format DJ and music producer, will bring his global sound to the stage. With a career spanning London, New York, LA, and now Dubai, Raphy J is known for his genre-spanning performances—seamlessly mixing Pop, R&B, Afrobeats, House, Latin, Arabic, and Hindi music. His sets have lit up stages at venues like Expo 2020, Time Out Market, and the Museum of the Future. ABOUT G42 : G42 is a technology holding group and a global leader in creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and operating worldwide, G42 champions AI as a powerful force for good across industries. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities today. Media contact: TrailRunner International – G42@ .
Yahoo
14 hours ago
- Business
- Yahoo
The oil market avoided worst-case scenario. What's next?
Macquarie Group global energy strategist Vikas Dwivedi joins Brad Smith on Market Catalysts to discuss recent changes in oil prices (CL=F, BZ=F) and what's next for the energy market. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. Oil prices are set for their steepest weekly decline since March of 2023 as the Middle East conflict failed to significantly disrupt supply in the region. What's next in terms of catalysts for crude? Joining us now to discuss is because the vote, excuse me, because the vote, who is the Macquarie group global energy strategist here. Great to have you here with us. You know, one of the things absolutely, one of the things that we're tracking, of course, week over week, at least, is perhaps the relief that things are not as bad as they could have become within the Middle East conflict, and thus the impacts on the oil markets as well. What what's your read through here? Yeah, uh, agree with your comment that it didn't turn out nearly as bad as it could have. Now, what we think is it should have come out the way it did, so it's not surprising that we we ended up here. But there were really credible scenarios where it could have ended up in very bad shape with a much longer military engagement between Iran and Israel, and a, um, either destruction or disruption of oil facilities in Iran, and then the potential reprisal from Iran to other regional oil producers, or of course, the straight of war moves, you know. So there were a lot of things that could have easily gone extremely badly for oil price and oil supply. And so with this in mind, you are bearish on crude, and you know, your answer there starts to spell out why, but take us deeper into why other investors out there might also be singing to a similar tune. Sure. The big thing right now is we're in a big over supply. Yeah, the way we're counting the barrels, it looks like we're one and a half to 2 million barrels a day over supply right now. And if we look forward over the next few months, what were some of the things that were supposed to happen? Iran was supposed to go down on production. They're probably going to stay flat or even go up a little bit, especially based on the recent announcements from the Trump administration of Iranian oil to China being okay. And uh, the US probably is firming up its own production growth, which was at risk, you know, not but a few weeks ago when we were nearing 55 WTI. The US may have fallen, and now it looks like with the amount of hedging that was done recently at higher prices, the US should deliver pretty good production growth. How how good? You know, to the tune of half a million and even up to 600,000 barrels a day on an exit basis this year. Brazil is ahead of schedule, far ahead of, I think where the market was. Everybody knows Guyana is in good shape. So, you know, not to list them all out, but there are a lot of good production growth stories. OPEC will still be coming back, right, with another four or 500,000 barrels a day over the next few weeks. Once you start piling that on, we start heading into extremely big surpluses in the global market. So what is the market focused on right now? The biggest headwind in this climate from your own assessment. And on the other side, is there is there a tailwind that we should be anticipating to the upside? Because I mean, it's hard to imagine that there would be a tailwind to the upside if there was more of the kind of drill baby drill that President Trump has talked about, because that would actually just further impact some of the very oil companies that are looking to securitize margins and have to fight fiduciary duty as well to their investors that kind of heat hit some of their own expectations on that front too. Great points. What we think is that maybe there's not a good tailwind, but there are things that will limit the downside. What we've analyzed in our supply demand balance, the surplus is so big that you could have an unmitigated down move. I could go down to, you know, some really, uh, unbelievably low price versus what expectations have been. But what I think will stop that is the fixes, right? The low price fixing low price. The Chinese will start buying a lot more strategic petroleum reserve barrels on their part. They can buy. We've seen them buy a million barrels a day. So that's a huge, um, sort of a safety net for the price of oil. You'll get a better demand. You'll get some diesel getting in front of natural gas, maybe 200,000 barrels a day globally there. And the US will slow down on growth, and OPEC can tap the brakes on how much it's returning to the market. You start adding those up and you get a you get a fix to the over supply that will be compelled by low prices. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al Etihad
18 hours ago
- Business
- Al Etihad
G42 concludes Supercharged 2025 in Abu Dhabi
27 June 2025 21:22 ABU DHABI (ALETIHAD) G42's flagship event, Supercharged, drew more than 2,400 employees, partners and global leaders to Abu Dhabi for a day of debate on building an AI-enabled seven years since its founding, G42 highlighted milestones such as Stargate UAE and the planned five-gigawatt UAE–US AI Campus. Discussions centred on turning AI into a real-world utility that is 'always on and always learning'.Virtually, Microsoft president Brad Smith and OpenAI chief executive Sam Altman praised the UAE partnership. Smith said Microsoft's $1.5 billion investment reflected confidence in G42's people and strategy, while Altman recalled G42's early recognition of AI's potential.G42 group chief executive Peng Xiao urged global collaboration, describing the present as the 'golden age of intelligence'. He prefers to define AI as 'alternative' or 'accelerated' intelligence, underlining a human-centred Edelman, G42 group general counsel, received the inaugural G42 Catalyst Award for forging key partnerships with US technology firms and co-chairing G42 Europe and the space, cybersecurity and clean energy are also featured. Department of Health chair Mansoor Al Mansoori outlined plans to extend a healthy lifespan through AI and genomics, while UAE Cybersecurity Council head Mohamed Al Kuwaiti flagged national advances in digital Kipman, founder of Analog, showcased edge-computing technologies developed in Abu Dhabi, including an eight-strong 'robodog' display. Panels on responsible AI announced initiatives such as Bee: Wild, which applies frontier tech to protect pollinators.G42 unveiled a refreshed brand and previewed an AI-powered website offering voice- and text-prompted navigation. The production set a regional record with 150 metres of LED screens and immersive 3D audio. The day ended with Peng Xiao taking a selfie with the crowd, followed by a global food experience and live performances. Five UAE university students joined the event after winning a competition for emerging AI talent, underscoring G42's commitment to cultivating the next generation of innovators. Source: Aletihad - Abu Dhabi
Yahoo
a day ago
- Business
- Yahoo
How a Shell–BP deal would compare to energy sector's past M&A
Shell (SHEL) and BP (BP) are in focus after The Wall Street Journal reported Shell is in early talks to acquire BP, though Shell has denied the report. Yahoo Finance anchor Brad Smith takes a closer look at mergers and acquisitions (M&As) in the energy sector, finding that a Shell–BP deal would be one of the biggest deals in the history of the sector. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. Shell is in early talks to acquire rival BP according to a Wall Street Journal report. People familiar with the matter say talks between company representatives are active, and that BP is considering the approach carefully, but Shell is dismissing the report, telling the Journal it's quote further market speculation and no talks are taking place. A possible combination of the energy companies could end up as the biggest oil deal since Exxon and Mobil's $80 billion plus merger more than 25 years ago. And you can see on this chart some of the biggest deals in history in the energy space. Exxon and Mobil back in 1998, Shell's acquisition of BG group in 2015 and more recently, Exxon Mobil acquiring Pioneer, plus Occidental's deal with Anadarko Petroleum. Now, one of the other things to keep in mind is what the outlook has been. Even though we saw in November, once investors were trying to wrap their minds around what the election results meant, and if there would be more of a mindset for deal making, we haven't seen that fully play out just yet. And even coming into the first and second quarter of this year, we got some commentary from EY Parthenon, and in their expectations, they are looking for a slight rise in total US deal volume in 2025 for deals over $100 million. So when we're talking tens of billions of dollars worth of deals, you can bet that the tires are going to get ticked and kicked just a little bit harder. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
S&P 500 nears record, Powell testimony, Nvidia meeting: 3 Things
Here are three of the top stories Wall Street is watching on Wednesday, June 25. The S&P 500 (^GSPC) is within striking distance of an all-time high. Federal Reserve Chairman Jerome Powell will be returning to Capitol Hill to testify before the Senate Banking Committee. One stock in focus is Nvidia (NVDA), which holds its annual shareholder meeting today. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Welcome to Yahoo Finance's flagship show, The Morning Brief from Brad Smith. Let's get to the three things that you need to know today. First up, US stock futures little changed today as the S&P 500 trades just within points of its all-time high. Meanwhile, tech stocks are leading the charge as the Nasdaq 100 closes out at a fresh record. But the higher stocks go, the louder the concern that multiples are starting to look frothy becomes. The S&P 500 is currently trading at 22 times expected profits in the next 12 months. That's 35% above its long-term average, according to data compiled by Bloomberg. Plus, traders are awaiting a second day of testimony from Federal Reserve chair, Jerome Powell. The head of the Fed traded softly when he appeared before Congress on Tuesday, indicating the central bank is monitoring data before making any adjustments to its policy. Investors will be closely watching for any signs on the central bank's rate path ahead of its July meeting. And Nvidia's annual general meeting kicking off today. Shareholders will vote to re-elect the company's board at the event and will be watching an advisory vote on executive compensation. But no major fireworks are expected there. The meeting comes at a time when some on Wall Street are calling for the company to reach a $6 trillion valuation. That is the anticipation knocking around this morning. And analysts at Loop Capital note that Nvidia is at the front end of the next golden wave of Gen AI adoption and expect a material leg of stronger than anticipated demand.
