Most Important News

1. Iran Claims Attack on U.S. Fifth Fleet; U.S. Responds with Airstrike;
2. Saudi M&A Activity Up 4% in Q1 2026, Reaches 24 Deals Worth $689M;
3. NVIDIA Spectrum-X Silicon Photonic Switch Enters Mass Production;

At the close of 2/6/2026, the Tadawul All Shares Index(TASI.SA) increased by 0.05%, closing at 11015.55 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.03%, closing at 22966.37 points.

As of Tuesday’s close, the S&P 500 index(SPX.US) increased by 0.13%, the NASDAQ(IXIC.US) rose by 0.03%, and the Dow Jones Industrial Average(DJI.US) increased by 0.45%.

Iran Claims Attack on U.S. Fifth Fleet; U.S. Responds with Airstrike

The Iranian Revolutionary Guard claimed it attacked the U.S. Fifth Fleet headquarters with missiles and drones on June 3. The U.S. Central Command said it intercepted several missiles and drones in the Middle East and launched a "self-defense" airstrike on Iran’s Qeshm Island. Iranian media reported that U.S.-Iran communication had paused recently, but Trump stated talks are still ongoing.

Trump Signs Executive Order on AI

The White House announced that President Trump signed an executive order to promote AI innovation and safety. The order creates a secure testing program for AI, gives the government early access to advanced AI models, and selects trusted AI partners within 60 days. It also strengthens cybersecurity across agencies, encourages voluntary cybersecurity testing for AI companies, and calls for a platform to share cybersecurity information about software vulnerabilities.

Saudi M&A Activity Up 4% in Q1 2026, Reaches 24 Deals Worth $689M

Saudi Arabia saw 24 M&A deals valued at $689 million in Q1 2026, up 4% year-on-year. Despite regional volatility, dealmaking remains resilient, supported by the Public Investment Fund and Vision 2030 reforms. Technology led deal volume in the Middle East, while transportation led in value. The outlook is cautiously positive, with a shift to more disciplined, rigorous deals amid ongoing uncertainty.

SpaceX Plans $135 Per Share IPO, Aiming for $75 Billion Raise

SpaceX is preparing for an IPO next week, targeting a $1.75 trillion valuation. The company may sell less than 5% of its shares, raising $60–80 billion. SpaceX plans to issue 555.6 million shares at $135 each, potentially raising $75 billion, with details to be confirmed Wednesday.

KSA Stocks

Retal Signs SAR 125.5M Agreement for Riyadh’s Retal Heights Project

Retal Urban Development co.(4322.SA) signed a SAR 125.5 million agreement with Sakan Al-Malqa to manage the design, development, marketing, and sales of the SAR 1.9 billion Retal Heights mixed-use project in Riyadh’s Al-Malqa district. The 48-month deal covers a 19,381 m² plot and is expected to benefit Retal’s financials from 2026 to 2029; Retal owns a 24.52% stake in the fund.

Saudi Networkers Secures Five-Year Framework Deal with Local Bank

Saudi Networkers Services Co.(9543.SA) signed a five-year renewable agreement with a Saudi bank to provide services. Contract value will depend on actual work orders. Revenue from this deal is expected to exceed 15% of the company’s 2026 annual revenue, with financial impact starting in 2026.

USA Stocks

NVIDIA Spectrum-X Silicon Photonic Switch Enters Mass Production

NVIDIA Corporation(NVDA.US) has started mass production of its Spectrum-X switch using CPO (co-packaged optics) technology. The new Spectrum-X enables large-scale and cross-regional AI deployments in data centers and is developed in collaboration with key partners including TSMC, SPIL, TFC, and Foxconn.

NVIDIA CEO Jensen Huang’s Endorsement Sends Marvell Shares Soaring

At Computex 2026, NVIDIA Corporation(NVDA.US) CEO Jensen Huang backed Marvell Technology, Inc.(MRVL.US), calling it a potential “next trillion-dollar company” and highlighted their strategic partnership. Huang stressed rising demand for high-speed interconnects as AI grows, saying “use copper if you can, optics if you must.” Marvell’s CEO noted physical limits on copper, indicating optical interconnects and CPO technology will become mainstream.

Microsoft Build: Web IQ Unveiled, Quantum Chip Roadmap Targets 2029

At its annual Build conference, Microsoft Corporation(MSFT.US) announced major releases: the Web IQ search platform for AI agents, the next-gen quantum chip Majorana 2 (aiming for practical quantum computing by 2029), a new AI assistant called Scout, and tools for developers to deploy autonomous agent systems on Windows PCs.