Most Important News

1. SpaceX Files for Record-Breaking US IPO; Musk Keeps Control;
2. Saudi Non-Oil Sectors Boost Revenue and Jobs in March;
3. Nvidia Beats Expectations With Strong Earnings, Announces New Buyback;

At the close of 20/5/2026, the Tadawul All Shares Index(TASI.SA) increased by 0.03%, closing at 10985.56 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.16%, closing at 22779.60 points.

As of Wednesday’s close, the S&P 500 index(SPX.US) increased by 1.08%, the NASDAQ(IXIC.US) rose by 1.54%, and the Dow Jones Industrial Average(DJI.US) increased by 1.31%.

SpaceX Files for Record-Breaking US IPO; Musk Keeps Control

SpaceX has filed for a US IPO, aiming to raise up to $75 billion at a $2 trillion valuation—potentially the world’s largest IPO. Q1 revenue was $4.69 billion with a $4.28 billion loss; 2025 revenue is projected at $18.7 billion with continued losses. Growth comes from Starlink, while Starship and AI face high costs and risks. Elon Musk will keep 85.1% voting power, raising governance concerns.

OpenAI Races to File $1 Trillion IPO Ahead of Anthropic

OpenAI plans to submit its IPO filing as soon as this week, targeting a September listing at a $1 trillion-plus valuation—the largest AI IPO yet. CEO Sam Altman wants to go public before rival Anthropic to attract more investor attention. The move also signals to investors not to commit all funds to the upcoming SpaceX IPO.

Saudi Non-Oil Sectors Boost Revenue and Jobs in March

Saudi Arabia’s Operating Revenue Index rose 10.2% year-on-year in March, led by strong growth in transportation (+25.8%), mining (+25.5%), and financial services (+17.6%), showing the Kingdom’s push to diversify beyond oil. Manufacturing, information and communications, and arts and entertainment also saw solid gains. The Employees Compensation Index grew 10% over the same period, indicating more jobs and higher pay in these sectors. However, building permits dropped slightly by 0.7% annually and 11.3% monthly.

KSA Stocks

Al-Modawat Q1 Profit Falls 48% Despite Revenue Growth

Al-Modawat Specialized Medical Co.(9594.SA) ]’s Q1 2026 net profit dropped 48% to SAR 2.9 million, even as revenues rose 22% to SAR 34.9 million. Operating income fell 33%. EPS decreased to SAR 0.04 from SAR 0.08. Shareholders’ equity grew to SAR 91M.

SIIG Shareholders Approve Buyback of Up to 10 Million Shares

Saudi Industrial Investment Group(2250.SA) shareholders approved buying back up to 10 million shares within 18 months, citing undervalued stock. The board can also distribute 2026 interim dividends semiannually or quarterly.

USA Stocks

Nvidia Beats Expectations With Strong Earnings, Announces New Buyback

NVIDIA Corporation(NVDA.US) reported first-quarter results that beat forecasts and gave a strong outlook for Q2. The company approved an $80 billion stock buyback and raised its dividend to $0.25 per share. Despite the positive report, Nvidia's shares slipped 1.25% after hours, a pattern seen after most recent earnings releases. Shipments of its new Vera Rubin product will begin later this year.

Google to Invest $15 Billion in Missouri Infrastructure

Alphabet Inc. Class C(GOOG.US) will invest $15 billion in Missouri, including building a new data center in New Florence. The project will train over 2,300 construction workers in two years and launch a $20 million Energy Impact Fund to help reduce energy bills for Missouri households.