Business | Can Falcon soar?

Abu Dhabi throws a surprise challenger into the AI race

It has released the world’s most powerful open-source model, and will soon launch an AI company

Illustration of a falcon breaking through.
Image: Rose Wong

OVER RECENT decades the oil-rich economies of the Gulf have shown a taste for flashy government projects with dubious payoffs. In the early 2000s Dubai spent an estimated $12bn building an artificial archipelago shaped like a palm. Last year Qatar splurged around $220bn hosting the football World Cup. Saudi Arabia, the region’s gorilla, is building a pair of 120km-long skyscrapers in the desert—for roughly $1trn.

Explore more

This article appeared in the Business section of the print edition under the headline “Can Falcon soar?”

From the September 23rd 2023 edition

Discover stories from this section and more in the list of contents

Explore the edition
Nvidia CEO Jensen Huang

Nvidia’s original customers are feeling unloved and grumpy

Gamers are cross with the chip giant

Will OpenAI ever make real money?

The artificial-intelligence darling’s CFO has an impossible job


How Walmart became a tech giant—and took over the world

Inside the stunning reinvention of the planet’s biggest company


Big pharma’s jumbo profits are under threat in America

Price targets and tariffs will hurt drugmakers and do little for patients

The myths of corporate innovation

Forget the breakthrough moments. Embrace the grind

Donald Trump is throttling America’s oil industry

Many shale producers cannot turn a profit at current prices