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Mubadala Targets Opportunities in AI and Robotics, CEO Says

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Abu Dhabi sovereign wealth fund Mubadala is stepping up its focus on artificial intelligence and robotics, identifying the convergence of the two as a key driver of future industrial growth, according to its group chief executive.

Speaking at the World Economic Forum in Davos, Khaldoon Al Mubarak said the intersection of AI and robotics could significantly reshape manufacturing and broader industry. He noted that the pace of technological change has shortened traditional investment horizons, making even five-year outlooks difficult to predict.

With assets of about $330 billion, Mubadala has expanded its technology portfolio in recent years, building positions across semiconductors, data centres, and AI infrastructure. Al Mubarak said robotics is becoming increasingly relevant as AI capabilities mature and begin to translate into physical automation.

Beyond industrial technology, Mubadala is also prioritising investments in life sciences, healthcare, and biotechnology, sectors the CEO said are likely to be transformed by AI-driven innovation. He added that the fund is preparing for a new phase of growth in Africa, as it looks to diversify geographically while aligning with long-term structural trends.

Indonesia’s Sovereign Wealth Fund Explores Stake in Grab-GoTo Merger

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Indonesia’s newly established sovereign wealth fund, Danantara Indonesia, is reportedly in early discussions to acquire a minority stake in the potential combined entity formed by ride-hailing and food delivery rivals Grab and GoTo. According to a Bloomberg News report on Friday, the move aims to alleviate concerns within the Indonesian government over Singapore-headquartered Grab’s ownership of the country’s largest tech company.

The deal, which is still in the negotiation phase, could see Grab valuing GoTo at approximately $7 billion. Grab is targeting a deal closure within the second quarter, though recent progress has slowed amid regulatory reviews by Indonesia’s antitrust authority. The regulator began studying potential risks associated with the merger last month to ensure fair competition and address any national security concerns.

Danantara Indonesia, launched in February, serves as Indonesia’s sovereign wealth vehicle and is designed to invest in strategic sectors including metal processing and artificial intelligence. The fund consolidates government stakes in various state-owned enterprises and is modeled after Singapore’s Temasek Holdings, aiming to foster national economic growth and technological advancement.

Neither Grab, GoTo, nor Danantara Indonesia have commented on the talks, but sources close to the matter indicate the discussions continue as stakeholders work through regulatory hurdles.

If completed, the transaction would mark a significant consolidation in Southeast Asia’s tech landscape, potentially strengthening Indonesia’s influence in the regional digital economy while balancing foreign ownership concerns.

Elon Musk Declines Interest in Purchasing TikTok

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Billionaire Elon Musk stated that he has no interest in acquiring TikTok, the popular short-video app that has faced scrutiny in the U.S. due to national security concerns over its Chinese parent company, ByteDance. His remarks were made in late January during a summit hosted by The WELT Group, part of Axel Springer SE, and were released online on Saturday.

Musk’s comments came shortly after U.S. President Donald Trump indicated he would be open to Musk purchasing TikTok. However, Musk emphasized that he has not made any bids for the platform and has no plans for managing TikTok if he were to acquire it. “I don’t use TikTok personally and I’m not familiar with its format,” Musk said, adding that acquiring companies is not his usual approach, as he typically prefers building businesses from the ground up.

This week, TikTok has attempted to bypass restrictions by enabling U.S. Android users to download the app via package kits from its website, as Apple and Google have yet to reinstate TikTok to their app stores following the implementation of a new U.S. law.

The U.S. government has raised concerns that TikTok could potentially share data with the Chinese government, prompting lawmakers to demand the app’s sale or face a ban. While TikTok has denied these allegations, its future remains uncertain.

President Trump, who has signed an executive order to potentially buy TikTok through a sovereign wealth fund, has shown a new interest in the app after previously attempting to block it. Despite past attempts to ban TikTok over security concerns, Trump has more recently expressed a positive view of the app, citing its influence on younger voters.