UAE-based AI company G42 removed $150 million worth of Huawei equipment and brought in an external auditor after U.S. officials pushed it to sever technology ties with Chinese firms, according to the source material. Washington had previously worried that advanced AI semiconductors from U.S. suppliers such as Nvidia could allow sensitive technology to reach China through G42. The report says the CIA sent veteran operative Johnny Gannon to Abu Dhabi to maintain ongoing oversight of G42. During the final stretch of the Biden administration, the U.S. approved conditional exports of AI chips to the UAE. After the Trump administration took office, the Stargate UAE AI infrastructure project involving OpenAI and Nvidia moved forward, while the Commerce Department recently eased AI semiconductor export controls to the UAE. That change leaves G42 able to buy Nvidia core products without restrictions for the next nine months. The source also notes that some people raised conflict-of-interest questions tied to commitments by parties related to UAE national security adviser Sheikh Tahnoon bin Zayed Al Nahyan to invest in Trump family-linked businesses. The White House denied those claims.

BlackRock CEO Larry Fink dismissed AI bubble fears at Milken Conference, highlighting structural computing shortages; he predicted computing power futures become a new asset class, while BlackRock launched a $30B AI infrastructure fund with Microsoft and MGX.

Abu Dhabi's sovereign wealth fund Mubadala disclosed a $408.5 million stake in BlackRock's iShares Bitcoin Trust (IBIT) as of March 31, 2025, up from $384 million at end-2024. The disclosure comes amid a surge in U.S. spot Bitcoin ETF inflows, with total daily net inflows exceeding $674 million on May 2, $425 million on May 5, and $334 million on May 9. Mubadala's increased exposure coincides with high-level U.S.-UAE crypto policy talks, where AI and Crypto Czar David Sacks met with Emirati officials. Separately, Eric Trump spoke at the Bitcoin MENA Conference in Abu Dhabi, calling Bitcoin a "store of value" and a hedge against inflation and political instability, and predicting it will reach $1 million.

Mubadala, Abu Dhabi's sovereign wealth fund, disclosed a $408.5 million stake in BlackRock's iShares Bitcoin Trust (IBIT) as of March 31, 2025, increasing its holdings from 8.24 million to 8.73 million shares. The disclosure coincides with record inflows into U.S. spot Bitcoin ETFs, which saw daily net inflows exceeding $300 million in early May. Meanwhile, U.S. AI and Crypto Czar David Sacks met with UAE officials in March to discuss digital currencies and AI. Eric Trump, speaking at the Bitcoin MENA Conference in Abu Dhabi, predicted Bitcoin would reach $1 million, calling it a hedge against inflation, political turmoil, and natural disasters.