Trump Set to Unveil New Tariffs on Dozens of Countries as Global 10% Duty Nears Expiration 
Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge 
ASML Trillion-Dollar Valuation: Can Europe’s AI Chip Giant Reach the Historic Milestone? 
GM Q2 Earnings Beat Estimates as General Motors Raises 2026 Profit Outlook 
Chalco Shares Jump as Chinalco Plans Up to $300 Million Stake Increase 
Australia ASIC Tightens Auditor Oversight After KPMG Leak Scandal 
SpaceX Q2 Earnings on Aug. 4 Set Stage for Historic Insider Share Unlock 
European Stocks Slip as Earnings, UK Inflation and ECB Decision Keep Investors on Edge 
Judge Approves Anthropic’s $1.5 Billion AI Copyright Settlement With Authors 
Gold Price Surges Above $4,100 as Middle East Tensions Boost Safe-Haven Demand 
IBM Q2 Earnings Miss Estimates as Software Growth Offsets Infrastructure Weakness 
ASEAN Ministers Warn Middle East Conflict Threatens Regional Stability and Energy Security 
Asian Currencies Hold Steady as Middle East Tensions Boost US Dollar, Oil Concerns 
US Stock Futures Rise as AI Optimism Lifts Tech, 3M Jumps on Strong Earnings 
Japan Yen Slides Past 163 as Middle East Tensions Lift US Dollar, Oil Prices 
Wistron Opens $700M Texas AI Factory to Build Nvidia GB300 Superchips 
Oil Prices Hold Steady as U.S.-Iran Conflict and Houthi Blockade Keep Markets on Edge 
Nexon Co., the South Korean video game company, reached a deal with Saudi Arabia's Public Investment Fund (PIF) for the purchase of a five percent stake. The sovereign wealth fund invested $883 million for the stake acquisition.
According to Korea Joongang Daily, with its five percent stake ownership in Nexon, the PIF has become the fourth-largest shareholder of the company. The sovereign wealth fund is said to be headed by the country's Crown Prince Mohammed bin Salman.
The stake acquisition was recently revealed through regulatory filing late last week. While it was only reported a few days ago, the purchase was said to have actually taken place last month - from Jan. 25 to 27. As posted in the filing, the Saudi Arabian PIF entered into a deal with Nexon for "pure investment" purposes.
Nexon has been getting investments from companies, but this is the first time that it has Nexon has received a substantial investment coming from a fund in the Middle East. Aside from the deal with said sovereign wealth fund, the gaming firm also recently obtained a $400 million investment from a film production company called AGBO that was co-founded by Marvel's "Avengers" film directors, Joe and Anthony Russo.
Nexon is known for some hit games, including role-playing games (RPG) such as "V4," which stands for "Victory For," "The Kingdom of the Wind: Yeon," and "Kart Rider." After the news of Saudi's PIF's acquisition of a stake in Nexon has been released, its stock reportedly increased 3.3 percent.
The Korea Economic Daily reported that since Saudi's sovereign wealth now owns a share in Nexon, it is expected to support the gaming company's global network expansion.
It was further revealed that the PIF is actually putting its money through investments in several major gaming firms worldwide. In fact, aside from Nexon C., it has also recently announced its purchase of a 5.1% share in Capcom Co., a Japanese game developer.
Finally, the sovereign wealth fund also owns a 4.9% stake in Activision Blizzard Inc., which is known for its hit title fame, "World of Warcraft," "Call of Duty," "Crash Bandicoot," "Overwatch," and "Starcraft." And these are not all, as the PIF also bought a 2.6% stake in Electronic Arts video game company and 3.5% shares in Take Two Interactive Software Inc.
