Abu Dhabi’s Judan Buys Stake in SpaceX Investor Alpha Wave

Abu Dhabi’s new $237 billion financial-services holding company Judan is buying a majority stake in Alpha Wave Global, an alternative asset manager that holds stakes in leading artificial intelligence firms including SpaceX, Anthropic and OpenAI.

Judan will take a 50.1% stake in Alpha Wave and help accelerate the launch of its AI-native life insurance business, the firms said. Financial terms weren’t disclosed, but the deal indicates that Gulf investors are continuing their global acquisition spree, despite concerns that the Iran conflict could dent activity.