Adobe, Qualcomm partner with Humain on generative AI for Middle East

Needham has downgraded SEMrush stock to a 'Hold' rating following Adobe's recent acquisition of the company for $1.9 billion. This decision reflects concerns about SEMrush's future performance in light of the acquisition, which may impact investor confidence.

"Bloomberg Markets" covers the latest market movements across global asset classes and addresses key issues affecting Wall Street. Featured guests include Adobe President Anil Chakravarthy, Middle East Institute Senior Fellow Paul Salem, and Bloomberg analysts Ben Scent, Chris Palmeri, John Harney, Stuart Paul, Emily Cohn, and Redd Brown.

Elon Musk announced that his xAI artificial intelligence startup plans to develop a 500 megawatt data center in Saudi Arabia in collaboration with Humain, the kingdom’s state-backed AI venture. The announcement was made during a US-Saudi investment forum in Washington, where Musk was joined by Nvidia CEO Jensen Huang, indicating a significant partnership in the AI sector.

Adobe has announced a $1.9 billion acquisition of Semrush, a software provider that assists businesses, including major companies like Amazon and TikTok, with search-engine optimization and marketing strategies. This deal highlights Adobe's commitment to enhancing its digital marketing capabilities.

President Donald Trump and Saudi Arabia’s Crown Prince Mohammed bin Salman discussed a potential deal for the sale of F-35 jets and the pursuit of peace in the Middle East during a meeting in the Oval Office. Trump indicated that the U.S. is likely to approve a defense agreement with Saudi Arabia, which includes a civil nuclear deal. This meeting underscores the ongoing collaboration between the U.S. and Saudi Arabia in defense and regional stability efforts.

Saudi Arabia's Humain is set to announce technology deals with major US companies, including Amazon and AMD. This development is part of Saudi Arabia's broader strategy to enhance its technological capabilities and diversify its economy. The announcement is expected to take place on November 18, 2025, and reflects the kingdom's ongoing efforts to attract foreign investment and foster innovation within its borders.