PIF and Silver Lake have held talks to acquire Unity Software, the video-game development platform, discussing a valuation of around $25 billion before Unity's latest earnings lifted its market capitalisation to approximately $21.5 billion. Silver Lake already owns about 8%, Unity is working with an investment bank on its options, and no deal has been finalised.
Unity was valued at about $25 billion during the talks, but after the company reported its earnings, the market cap dropped to around $21.5 billion. Now, it is the company's results, not the bidders, that are setting the price.
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Six months to fund $5 billion
DataVolt expects to close financing on its Saudi AI data centre pipeline — $5 billion total — within six months, with a 1.5GW facility at Neom whose first phase is due operational in 2028. Its Uzbekistan site TAS-1 is raising up to $150 million against a $250 million project cost, including $78 million from the EBRD on a 12-year non-recourse term; the first 6MW phase has under 10% of capacity left. Parent Vision Invest manages more than $95 billion of infrastructure assets.
The Uzbekistan deal is the tell. A 12-year non-recourse structure with a development bank anchoring it is the template they'll try to replicate at Neom and 1.5GW is roughly twenty times the scale, which is where the template gets tested.
Saudis are sending more abroad
Saudi nationals' remittances abroad rose 20% year on year to SAR 5.8 billion in August, and expatriate remittances rose 1% to SAR 13.5 billion. Over eight months, expatriates sent around SAR 113 billion. Saudi nationals sent around SAR 44.1 billion, down from SAR 47.5 billion a year earlier.
Expatriate flows have stayed steady at about SAR 113 billion over the past eight months. For a payments company looking to grow, it makes more sense to focus on better fees and faster service for Saudi senders instead of waiting for the market to get bigger.
Three trillion riyals, out the door
Saudi listed banks' Q2 2026 numbers, per Al Rajhi Capital: net loans rose 7% year on year to SR3.25 trillion ($865.2bn), deposits rose 9% to SR3.15 trillion, pushing the loan-to-deposit ratio to 103%, while net interest margin improved 5 basis points to 2.96%.
On the surface deposits are exceeding loans even though the loan-to-deposit ratio is still rising above 100٪, so this year wholesale funding costs should be the figure you look at rather than headline loan growth.
