The ongoing conflict between the US and Israel against Iran is creating significant challenges for Gulf Arab nations, which are already feeling the economic strain from rising tensions and instability in the region.
Saudi Arabia just made its most aggressive move yet in that generational project. The kingdom announced a new $40 billion technology investment fund, developed in partnership with American venture capital heavyweight Andreessen Horowitz (a16z), aimed at positioning Saudi Arabia as a global hub for artificial intelligence, cloud infrastructure, and advanced computing.
The level of accuracy in some of this targeting you can see it in our neighbours as well as the kingdom indicates that this is something that was premeditated, preplanned, preorganised and well thought out.
The global impact of the Gulf countries is not limited to oil. This region is a hub of the international economy and if it decides to focus on its defense and to start pulling investments and to stop its [economic] engagement with the international community, the effect will be felt in every household in the world.