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ByteDance Sells Moonton to Saudi PIF Gaming Firm

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ByteDance has agreed to sell its gaming unit Moonton to Savvy Games Group, a Riyadh-based company owned by Saudi Arabia’s Public Investment Fund, as part of a broader shift in strategy.

The deal, reportedly valued at more than $6 billion, transfers ownership of the studio behind the popular mobile title Mobile Legends: Bang Bang. Moonton was acquired by ByteDance in 2021 and has since become a key player in the global mobile gaming market.

The transaction reflects ongoing consolidation in the gaming industry, where companies are seeking scale, intellectual property and global reach. For Savvy Games Group, the acquisition strengthens its position in mobile gaming and esports as it continues expanding through strategic investments.

For ByteDance, the move aligns with its increasing focus on artificial intelligence and core technology initiatives, as competition intensifies in China’s AI sector.

Moonton’s leadership is expected to remain unchanged, ensuring continuity in operations following the transition.

OpenAI Explores Funding from Saudi Arabia, India, and UAE Investors for $40 Billion Raise

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OpenAI, the creator of ChatGPT, has held talks with Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and the UAE’s MGX about joining its planned $40 billion financing round, The Information reported on Wednesday. Each investor could contribute hundreds of millions of dollars or more, according to sources familiar with the discussions.

The fundraise, reportedly led by SoftBank, aims to support OpenAI’s development of advanced AI models and its ambitious infrastructure project called Stargate. Earlier in 2025, CEO Sam Altman engaged with India’s IT Minister about fostering a low-cost AI ecosystem, and he planned to visit the UAE to pursue funding talks with MGX, sources told Reuters.

OpenAI is also in discussions with U.S. investors Coatue and Founders Fund to secure at least $100 million each. The company anticipates raising an additional $17 billion by 2027 to continue scaling its AI capabilities.

Microsoft-backed OpenAI and the mentioned investors have not yet responded to requests for comment, and Reuters has not independently verified the funding discussions.