As the sun dipped below the Riyadh horizon, casting a golden glow over sleek glass towers and ancient sandstone, the Future Investment Initiative (FII) Summit—dubbed “Davos in the Desert”—kicked off with a buzz that could almost drown out the hum of private jets landing nearby. The air smelled of oud and ambition, a heady mix of old Arabia and new money, as global titans descended to discuss the future under the banner of Saudi Vision 2030.
Among them, Larry Fink, BlackRock’s big boss, stood out with plans to launch BlackRock Riyadh Investment Management, backed by a cool $5 billion from Saudi’s Public Investment Fund. His vision? To pull foreign cash into local markets. At the Middle East Green Initiative Summit, he mused about climate tech spawning the next billion-dollar startups. Imagine that—green dreams blooming in desert sand. Notably, Fink echoed past discussions at the FII, where BlackRock’s expected 4% returns over the next decade were a key highlight. Like savvy crypto investors, he emphasized the importance of dollar-cost averaging when entering emerging markets.
Then there’s Elon Musk, beaming in remotely for the 2024 FII, warning of “woke” AI gone rogue while pushing for “truth-seeking” tech. He tossed out wild predictions too—10 billion humanoid robots by 2040, priced like a decent car. His tone? Dead serious, yet oddly comical, like a sci-fi prophet at a souk. Meanwhile, self-driving cars might hit U.S. roads next year, if he’s to be believed. Adding to the excitement, the forum anticipates major deal announcements, with last year’s event securing $17.9bn in deals and expectations for even larger figures this year.
Mark Zuckerberg’s shadow loomed large, though not in person. Saudi leaders see his Meta empire, with its AI beast Llama 4, as a blueprint for exporting vision, not just oil. Their 2016 chats with royalty hinted at tech’s seductive pull. Here, amidst date palms and digital dreams, tradition wrestles with tomorrow. Can Riyadh truly become a tech oasis? The FII, themed “Infinite Horizons,” whispers yes—but the desert keeps its secrets, silent under a starlit sky.
