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A look at how proptech startup Knotel went from a $1.6B valuation to filing for bankruptcy

TechCrunch

It’s a new category the industry hasn’t seen and is rapidly adopting. In August, Knotel announced the completion of a $400 million financing, led by Wafra, an investment arm of the Sovereign Wealth Fund of Kuwait. We’ve watched their ascent from a distance and are now thrilled to join them on the journey.

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Faraday Future founder’s bankruptcy spiked a potential deal in the Middle East

The Verge

Saudi Arabia’s Public Investment Fund already owns a majority stake in fellow EV startup Lucid Motors, and the UAE and Kuwait have even bigger sovereign funds. Instead, these loans were largely made up of individual contributions from the members of Faraday Future’s “Global Partners” management team of executives.

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Netflix is building a global audience by empowering Arab creatives

Fast Company Tech

When Netflix reality show Dubai Bling debuted in 2022, it became a global sensation, garnering viewers across 51 countries. The show has been part of a surge in Arabic content on Netflix attracting global viewership. Through these projects [Netflix is] automatically nurturing the industry.

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ChatGPT: Everything you need to know about the AI-powered chatbot

TechCrunch

DST must fulfill permitting requirements to operate in China, including securing a license from the Ministry of Industry and Information Technology (MIIT),” Apple said in a letter to OpenCat, a native ChatGPT client. Based on our review, your app is associated with ChatGPT, which does not have requisite permits to operate in China.”

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