Most Important News

1. Trump: Iran Agreed to All My Demands;
2. Micron Jumps 16% After Hours as Q3 Results and Outlook Beat Estimates;
3. AI Enters the Profit Era—Nvidia CEO Jensen Huang;

At the close of 24/6/2026, the Tadawul All Shares Index(TASI.SA) decreased by 0.25%, closing at 11006.80 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.25%, closing at 23055.81 points.

As of Wednesday’s close, the S&P 500 index(SPX.US) decreased by 0.10%, the NASDAQ(IXIC.US) fell by 0.43%, and the Dow Jones Industrial Average(DJI.US) increased by 0.35%.

Trump: Iran Agreed to All My Demands

According to NBC News, after concluding a closed-door luncheon with Senate Republicans, U.S. President Trump gave a brief statement to the media, discussing oil prices and the progress of negotiations with Iran. Trump said, "Additionally, I just saw that oil prices have dropped below $70. Who would have thought such a thing could happen? And this is during a time of war. The attitude from the Iranian side has also been very good. They have agreed to all my demands, and they have to."

Goldman Sachs Warns: AI Investment Boom Not Peaked, But Market Pricing Outpaces Fundamentals

Goldman Sachs says the AI investment frenzy hasn’t peaked, but market expectations are well ahead of actual fundamentals. U.S. tech investment as a share of GDP has surpassed the dot-com era, and cloud giants’ 2026 capex forecasts have surged nearly 80% in six months. While this boom is boosting industries like semiconductors and data centers, valuations remain high. Goldman notes today’s main risk is not just overvaluation, but the market’s assumption that high profitability and returns will last. The core issue: fundamentals stay strong, but the market has already priced in too much future growth.

Saudi Arabia’s June Sukuk Issuance Surges 340% to $2.81 Billion to Fund Vision 2030 Projects

Saudi Arabia raised SAR10.57 billion ($2.81 billion) in June through sukuk issuances, a 340% increase from the previous month. The funds, divided across six tranches maturing between 2029 and 2041, will support the Kingdom’s Vision 2030 economic diversification plans, including infrastructure, tourism, and giga-projects like NEOM. Saudi Arabia continues to maintain fiscal flexibility by combining domestic and international borrowing.

KSA Stocks

Qassim Cement Expects 3% Cost Increase from Fuel Price Hike Starting 2026

Qassim Cement Co.(3040.SA) anticipates a 3% rise in total operating costs due to higher fuel prices at its Qassim and Hail plants, effective January 1, 2026. The company is working to offset the impact through operational efficiencies and participation in Saudi Arabia's Industrial Sector Competitiveness Program, which helps mitigate higher energy expenses and boosts energy efficiency.

Umm Al Qura Signs Development Framework Agreements for Key Makkah Projects

Umm Al Qura for Development and Construction Co.(4325.SA) signed framework agreements with the Royal Commission for Makkah City and Holy Sites for the development of Hindawiyah West and Hindawiyah South areas. The consortium includes Umm Al Qura, Makkah Construction and Development Company, and Al Rajhi United Real Estate Company. The agreements outline main terms for development and financing, with Umm Al Qura appointed as developer and exclusive marketing agent. Financial impact is not yet determined, and further updates will follow.

USA Stocks

Micron Surges Over 16% After Hours! Q3 Earnings and Guidance Smash Expectations

Micron Technology, Inc.(MU.US)’s Q3 EPS soared over 12 times year-over-year, with both earnings and revenue beating market estimates by 22% and 16% respectively. Gross margin hit a record-high 84.9%, more than double last year’s level. Core data center revenue also set a new record, rising 6.5 times YoY and nearly 70% above expectations. For Q4, Micron’s revenue guidance set a new record, with the midpoint nearly 16% above consensus and EPS guidance 22% higher. Capex guidance is also 12% above estimates. Micron expects the memory chip supply shortage to persist until at least 2028, with uncertainty over when supply can meet demand.

Qualcomm Targets $5 Billion in Data Center Revenue for FY2027

QUALCOMM Incorporated(QCOM.US)’s CFO said the company aims for $5 billion in data center revenue by FY2027 and over $15 billion by FY2029, targeting more than 5% market share in the sector. Qualcomm plans to launch a data center CPU in mid-2028. The company expects its custom chip business to generate significant revenue starting in Q1 2027, with Microsoft set to deploy Qualcomm’s high-bandwidth compute chips in Azure data centers.

AI Enters the Profit Era—Nvidia CEO Jensen Huang Signals Strong Confidence in Industry’s Long-Term Growth, Vera Rubin Fully in Production

At NVIDIA Corporation(NVDA.US)’s annual shareholder meeting, CEO Jensen Huang expressed strong optimism on AI’s long-term outlook, saying doubts about AI’s return on investment have been answered as AI begins generating real economic value. Huang emphasized that AI data centers are now “factories” producing valuable tokens—code, answers, and services—that directly earn revenue. He noted that we are entering a new era of building “AI factories” and that useful, profitable AI has arrived. Huang said AI is driving a major transformation in computing, on par with past shifts like mainframes, PCs, and cloud computing.