The move comes less than a decade after its acquisition of Israeli-based Mellanox, also in northern Israel, which transformed the entire AI industry and made the AI revolution possible.

Industry sources told Reuters that the project could cost billions of dollars and create thousands of jobs. The world's most valuable company by market capitalization has set a July 23 deadline for offers to build its campus of up to 180,000 square meters (1.94 million square feet).

Officials familiar with the matter told Reuters that Nvidia received "dozens and dozens and dozens" of offers from municipalities and other entities, not all located near Haifa. The company's current Israeli operations are based in Yokne'am, situated near the northern port city of Haifa, where numerous technology companies maintain facilities.

Nvidia acquired its Israel presence in 2020 through the purchase of Mellanox Technologies for nearly $7 billion. The company has since expanded its workforce dramatically, nearly tripling in size since the acquisition. According to Reuters, sources indicated that Mellanox contributed $13 billion in revenue to Nvidia last year, though the company has not confirmed this figure.

The Haifa municipality expressed confidence in its bid for the new campus. Officials told Reuters that they are "currently busy preparing an attractive offer for the company" and believe they represent "the city with the best potential for them."

The expansion comes as major technology companies including Microsoft, Amazon, Meta Platforms, Alphabet, and Tesla compete to build AI data centers and dominate the emerging technology sector. This competition has led to a surge in demand for Nvidia's high-end processors, driving the company's remarkable growth trajectory.

One source familiar with the matter told Reuters that Israel's expertise was "extremely important to the AI era" and that Nvidia needed to expand rapidly to meet demand. The company now employs 5,000 workers in Israel and has made several additional acquisitions in the country over recent years.

Nvidia has also constructed Israel's most powerful AI supercomputer, which served as a blueprint for Elon Musk's Colossus supercomputer. The facility demonstrates the company's commitment to maintaining cutting-edge infrastructure in the region.

Dror Bin, CEO of the Israel Innovation Authority, described the planned campus as massive and capable of housing "a few thousand employees." He told Reuters that "Nvidia sees its operation in Israel as something which is going to stay here for a very long time and to expand here."

"This declaration is a sign of confidence in Israel," Bin added, according to Reuters.

The expansion announcement comes as rival Intel faces challenges in the region. Intel, which has operated in Israel since 1974 and employs 9,350 workers, has begun trimming its workforce globally. Israeli media reported that several hundred workers in Israel are being made redundant, though a local spokesperson declined to comment on specific numbers.

The spokesperson only referenced Intel CEO Lip-Bu Tan's April comments that the company was "taking steps to become a leaner, faster and more efficient company," according to Reuters.

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Prime Minister Benjamin Netanyahu's exclusion from President Donald Trump's Mideast visit signals West Wing fatigue with the Israeli leader, The Washington Post reports, citing a senior White House official who as saying the meeting was not necessary because he had already visited Washington "700 times" since Trump's inauguration.

Trump will embark Monday on a four-day journey through wealthy Gulf monarchies, with scheduled stops in Saudi Arabia, Qatar and the United Arab Emirates. The trip predominantly centers on securing commercial agreements and fresh capital from the region's affluent nations, the Post reported.

This Gulf excursion, marking Trump's first significant international venture of his second term, demonstrates the president's strategic focus and represents a departure from customary practice where new presidents typically prioritize visits to traditional Western allies. The Post reports this approach reflects Trump's personal fondness for the region, its prosperity, and the ceremonial grandeur these host countries intend to display during his visit.

The presidential tour unfolds amid numerous pressing regional security challenges, including Gaza's situation, Iran's nuclear ambitions, and Trump's longstanding aspiration to facilitate diplomatic normalization between Saudi Arabia and Israel. The Washington Post notes that Gaza's conflict has thrust the region into turmoil, weakening Iran and its allied groups significantly and creating a distinctive moment where power dynamics could potentially shift.

White House officials indicated to the Post that security matters would not be the central focus during Trump's 3½ days in the region, highlighting the president's more limited vision for America's global role and his concentrated emphasis on business arrangements and investments that could strengthen his domestic political standing. Notably, despite its proximity, Trump has opted against visiting Israel – perceived as a diplomatic slight toward Israeli Prime Minister Benjamin Netanyahu.

"There is a real opportunity here, but the Trump administration in no way, shape or form wants to push it, because it's not interested in reshaping the region," said Steven A. Cook, a senior fellow at the Council on Foreign Relations. "And so it's perfectly willing to cut deals with the Iranians, thereby extending the life of the regime."

The decision to start with Saudi Arabia mirrors Trump's approach from 2017, though during that first-term visit he continued onward to Israel and European partners with deeper historical connections to Washington.

This presidential journey follows recent visits by his son, Eric Trump, who along with his brother leads the Trump Organization. The Post notes Eric traveled to Qatar and the United Arab Emirates in recent weeks to oversee agreements involving the family's real estate and cryptocurrency ventures. Those deals included investors connected to local governments, blurring distinctions between Trump family commercial interests and US diplomatic policy. The administration has maintained that the president no longer participates in Trump Organization operations and is making financial sacrifices to serve in office.

"President Trump will return to re-emphasize his continued vision for a proud, prosperous and successful Middle East where the United States and Middle Eastern nations are in cooperative relationship and where extremism is defeated in place of commerce and cultural exchanges," White House press secretary Karoline Leavitt told reporters Friday.

While Trump made an unexpected overnight trip to Italy last month for Pope Francis' funeral, the Post reports the Middle East journey was designed as the inaugural international excursion of his second term.

Gulf monarchies excel at staging elaborate displays of ceremony and spectacle, and Trump's movements from Riyadh to Doha to Abu Dhabi are expected to feature plenty of both. According to the Washington Post, during his 2017 visit, Trump joined Saudi King Salman and Egyptian President Abdel Fatah El-Sisi placing hands on a glowing sphere in Riyadh, followed later by participation in a traditional sword dance.

Eight years later, similar festivities likely await before Trump attends a summit with Gulf Cooperation Council leaders. A Saudi-US business conference will happen concurrently elsewhere in the Saudi capital.

"The focus of this trip is business. It's economics. That tells you something," said Richard Haass, a veteran diplomat and president emeritus of the Council on Foreign Relations. "It's revealing about this administration that it's the first administration in the modern era to approach the world largely in economic and business terms rather than strategic or diplomatic terms." According to the report, even Saudi Arabia's selection as the initial destination appeared driven by a highest-bidder approach, with Trump challenging the Saudi government to increase its American investments in exchange for the coveted first visit.

Saudi Crown Prince Mohammed bin Salman was the first foreign leader who spoke with Trump after his inauguration. During that conversation, he informed the president that Saudi Arabia would invest at least $600 billion in the United States over four years. Trump requested they "round out" that commitment to $1 trillion, suggesting that would secure Saudi Arabia as his first foreign destination as president.

"They've agreed to do that, so I'm going to be going there," he said weeks later, although specifics remain unclear, and the Post notes Saudi investment claims during Trump's first term produced fewer jobs and less capital than initially projected. "I have a great relationship with them, and they've been very nice, but they're going to be spending a lot of money to American companies for buying military equipment and a lot of other things."

Meanwhile, Netanyahu won't receive a face-to-face visit in Israel, potentially complicating his domestic political position where he portrays himself as an essential link to Washington. A senior White House official told The Washington Post no meeting was necessary because Netanyahu had already visited Washington "700 times" since Trump's inauguration, seemingly suggesting some administration frustration with the Israeli leader. Netanyahu has actually visited twice – still twice more than any other world leader. The official spoke anonymously to discuss travel strategy freely.

During the visit, prominent US corporate executives will also travel to Riyadh for a Saudi-US Investment Forum. Though Trump emphasizes commerce, regional leaders will certainly raise Gaza and other critical issues even if major policy developments aren't immediately forthcoming.

Arab leaders believe Trump has granted Netanyahu unrestricted freedom to expand military operations in Gaza. US representatives have been approaching countries about accepting Gazan refugees – a step numerous Arab nations fear could facilitate complete Israeli control of the territory, eliminating its Palestinian status.

In his first term, Trump oversaw mediation between Israel and several Arab nations, normalizing relations through agreements called the Abraham Accords.

The Saudi government seeks assistance with its civilian nuclear program and expanded defense cooperation from Washington. US diplomats have offered these concessions to encourage Riyadh's normalization with Israel, but Saudi demands for a Palestinian state pathway will likely prevent a Saudi-Israel agreement for now. Some Trump officials have suggested advancing the US portion of an agreement in exchange for economic benefits or promises of future movement toward Israel.

Iran will probably emerge as another discussion topic. Trump's administration has initiated direct talks to restrict the country's nuclear weapons aspirations. Trump recently announced the US military would cease bombing the Iran-backed Houthis, a group in Yemen attacking Red Sea shipping since Hamas' assault on Israel, in exchange for protection of American vessels.

The visit coincides with Trump's family business expanding into some destinations on his itinerary. Over the past week, the Trump Organization announced new projects including a substantial hotel and tower in Dubai and a golf course near Doha. These ventures are proceeding in partnership with Dar Global, a real estate company also collaborating with the Trump Organization on other Saudi Arabian projects.

The Trump International Hotel & Tower in Dubai, announced April 30, will span 80 floors and feature a members-only club "set to redefine the meaning of exclusive luxury," according to promotional materials. The Trump International Golf Course outside Doha, announced May 1, will include an 18-hole course, clubhouse and upscale villas with beach access.

This project forms part of a development supervised by Qatari Diar, a government-run real estate authority. The Trump Organization had committed to avoiding new agreements with foreign governments during Trump's presidency.

A Trump Organization spokesperson told the Washington Post that its agreement involves only Dar Global and that the organization "has no affiliation, partnership or engagement with Qatari Diar or any other agency of the State of Qatar." When questioned Friday about whether Trump's businesses would benefit from the trip, press secretary Leavitt responded: "It's frankly ridiculous that anyone in this room would even suggest that President Trump is doing anything for his own benefit. He left a life of luxury and a life of running a very successful real estate empire for public service."

She added: "This is a president who has actually lost money for being president of the United States."

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In recent years, alternative investments have surged in popularity, offering investors opportunities beyond traditional stock markets. These investments, which operate outside of conventional traded capital markets, span a diverse range of sectors including social loans, cryptocurrencies, infrastructure, biotech, real estate (both domestic and international), and renewable energy.

The growth of this sector can be attributed to the low interest rates that characterized global and Israeli markets in recent years – a trend that has since shifted. Alternative investments provided investors with additional portfolio diversification options during this period.

However, while these investments may offer potentially higher returns, they also come with elevated risks that often surpass those associated with traded securities. Investments in stock exchanges are based on prospectuses and updated information that companies are required to publish according to each country's regulations. In contrast, disclosure in alternative investments is less visible and unregulated, necessitating a thorough examination of the inherent risks.

Proper assessment forms the foundation for deciding whether to participate in such investments, alongside other critical factors. Among these considerations are the tax implications of the investment.

Tax aspect evaluations should account for the tax rates applicable to traded financial instruments on stock exchanges and the possibility of offsetting losses. Additionally, while stock exchanges typically operate continuously five days a week, alternative investments often have limited liquidity, with predetermined and relatively restricted exit points.

The current economic climate, characterized by high inflation and interest rates, demands a reassessment and appropriate balancing of investment portfolios, including those of households, while taking into account pension investments.

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The German police forces has reached out to the Israel Police's Central Fraud Unit to help investigate a multi-media fraud scheme targeting German citizens that they believe is being operated by Israel.

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The suspects are believed to have set up call centers in Israel, Germany, and other countries, including Georgia, through which German citizens were contacted and persuaded to invest hefty sums in stocks, foreign currencies, and goods. Eventually, the investors discovered that their money had vanished without any deals being concluded.

The fraud made use of fake investment websites and is assessed at tens of millions of euros, with investigators suspecting that it remained in operation for several years.

A raid of the company's offices in Petah Tikva, where the scheme was active and targeted Israelis, resulted in police seizing computers, cellphones, documents, and cash. Prior to the raid, 4 million shekels ($1.24 million) in various bank accounts linked to the case had been frozen.

On Wednesday morning, the investigation was made public. Detectives from the unit arrests 15 Israeli suspects and brought them in for questioning. Of the 15, 11 were released after questioning, while the remaining four were detained and due to appear at the Jerusalem Magistrates Court for a remand hearing.

The current expectation is that Germany will ask Israel to extradite the four suspects to stand trial there. The police plan to ask for a 20-day remand, in part to allow time to arrange the extradition process.

The four suspects are residents of Hoon, Tel Aviv, Tzur Yigal and Givatayim. According to the authorities in Germany, they are members of a criminal organization headed by Israelis, although the organization's two heads – an Israeli father and son – are abroad and have yet to be arrested.

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Not only is Israel shifting from "startup nation" to "scale-up nation," but the time it takes Israeli startup companies to scale up – even to "unicorn" (valued at $1 billion or more) status – is decreasing, according to a new report compiled by Jonathan Cohen of Catalyst Investments.

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Cohen investigated the numbers behind the recent change in the Israeli startup ecosystem, and found that the shift from "start-up" to "scale-up" reflected a change in the influence of US investors in Israel.

US-based corporate and financial institutions have increased their exposure in Israel and are now predominant, both in terms of investments and exits, Cohen explained.

"If we look at the investment rounds above $100 million, more than 70% (including all the rounds ever) occurred from 2019, and 27 rounds (i.e. 33%) were completed this year, from January to May 2021. Out of these 27 rounds above $100 million, 23 were led or co-led by American institutions. As comparison, only a third of the rounds were led by American investors prior to 2019," Cohen said.

"There are many reasons to explain the increasing amount invested by US investors: First, the Israeli VC and PE ecosystem is maturing, with more companies and experienced entrepreneurs succeeding in convincing US corporates and institutions to invest larger amounts in the country. Second, the 'startup nation' has developed a large number of companies valued between $300 million and $3 billion that are good targets of mid-cap and large-cap investors, for either large investments or buyouts. Third, American investors consider that Israeli companies are cheaper than US companies, and are willing to invest in them as they know that Israeli companies will relocate their headquarter in the US to help for the future exit.

"Lastly, Israel's ability to cope with crises such as COVID-19 was a great advertisement for the Israeli companies and its economy as a whole," Cohen continued.

According to Cohen, the development of the Israeli market also attracts investors from the rest of the world.

"Catalyst receives a lot of investments inquiries from Asia and the EU, as investors want to increase their exposure to the Israeli tech. The fact that the US is the first mover in terms of large investment rounds opens doors to other large international investors, notably Chinese players. With an increasing maturity of other regions such as Asia and the GCC, Israel could expect to be, one day, the home of more than 100 unicorns," he said.

According to the report, capital invested in Israeli high-tech increases every year and in 2020 reached some $10 billion. Over 80% of the investments in 2020 were directed toward growth-stage investments, from $2.5 billion to $8.5 billion over the last five years. In Q1 2021, the trend was similar, with $5.4 billion invested in Israeli high-tech. US institutions generally invest alongside leading local funds, as those funds offer a presence in Israel to support the company.

Meanwhile, the average time it takes for Israeli tech companies to become unicorns has decreased by half in the past decade. For Israeli unicorns established after 2008, it took an average of six years to reach a billion-dollar valuation, compared to an average of 15 years for Israeli unicorns established from 1999 to 2008. The number of Israeli unicorns has soared in recent years, from one in 2013 to 18 in 2019, and 65 in May 2021 – more unicorn companies than in all of Europe.

Exits for Israeli startups show a similar trend. From 2017 to May 2021, 70% of the 102 merger and acquisition deals over $100 million were completed by North American acquirers, compared to 13% from Europe, 7% from Asia, 9% from Israel and 1% from Australia.

IPOs also reflect the same development – with 77% of Israeli IPOs completed on the Nasdaq and New York Stock Exchange, with another 15% on the Tel Aviv Stock Exchange, and 8% on the Euronext.

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The UAE has reportedly threatened Hamas it will cease all infrastructure and economic investments in the Gaza Strip if it fails to come to a ceasefire agreement with Jerusalem in the near future.

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"We are still ready and willing to promote civil projects in cooperation with the Palestinian Authority and under UN management [in Gaza], but our necessary condition is calm," an unnamed UAE official told the financial daily Globes over the weekend.

"If Hamas does not commit to complete calm, it is dooming the residents of the Strip to a life of suffering. Its leaders must understand that their policies are first and foremost hurting the people of Gaza."

On Friday, Emirati Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan voiced his country's concern over the escalation of Israeli-Palestinian violence and called for a ceasefire and the start of a diplomatic dialogue, state news agency WAM reported.

Al Nahyan offered condolences to all victims of the fighting, citing the promise of September accords that made the UAE and Bahrain the first Arab states in a quarter century to establish formal ties with Israel.

"The UAE is alarmed by the escalating spiral of violence in Israel and Palestine. We express our condolences to all victims of the recent fighting, and join others in calling for an immediate cessation of violence and hostilities," he said.

"The UAE calls on all parties to take immediate steps to commit to a ceasefire, initiate a political dialogue, and exercise maximum restraint," the minister added.

"We reflect on the promise that the Abraham Accords hold for current and future generations, to live with their neighbors in peace, dignity and prosperity," he said, offering his country's support to all efforts to de-escalate tensions.

Part of this article was first published by i24NEWS.

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Mining companies awarded blocks in Egypt's Eastern Desert are set to start exploring for gold under a legislative overhaul that seeks eventually to unlock vast untapped mineral resources.

Despite plentiful reserves and a rich mining history that gave rise to elaborate Pharaonic gold jewelry, Egypt has just one commercial gold mine in operation. Foreign investment in oil and gas has grown, but mining has languished.

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Now, the country is banking on high gold prices and amended mining laws that scrap red tape and a profit-sharing rule, unpopular in the industry, to lure interest.

One year after launching its first bid round under the new rules, it has so far clinched five gold exploration contracts in a first bidding round and kept the tendering system rolling as it tries to build momentum. The government is looking to attract $1 billion in annual investments in mining, a target industry sources say could be within reach.

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TipRanks, an Israeli firm specializing in algorithmic-drivel investment analytics and information, has announced a partnership with Stockal, the first online investment platform in India to offer retail investors access to US stocks.

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Stockal is the first India-based financial institution based in India to feature TipRanks' technology, whcih uses Natural Language Processing (NLP) algorithms to aggregate and analyze financial data online.

"Our priority is to bring Stockal users the best financial resources available globally, to ease their decision making process" said Stockal co-founder and co-CEO Sitashwa Srivastava.

TipRanks CEO Uri Gruenbaum called the new partnership a "significant milestone."

"Our goal is to level the playing field for investors by offering them simplified access to institutional-level tools. This is game changing, and I'm delighted that Stockal clients can now make better, data-driven investment decisions," Gruenbaum said.

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VentureIsrael announced on Wednesday the launch of a new venture capital fund, which will invest in Israel based, early-stage deep-tech start-ups. The fund's investment strategy focuses on companies with clear-cut technological advantages, an experienced management team and a flexible business strategy.

The fund's first investments are a secure quantum communications system, an AI (Artificial Intelligence) market research solution and a next-generation correspondent banking platform.

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VentureIsrael is managed by five partners – all investment experts with diverse backgrounds: Michael Harte, former COO of Santander UK and Barclays; Roman Gold, Gadi Isaev and Alexander Zarankin of JSCapital, the Israeli investment platform; and Igor Turkin of Investment Management Group.

"The Israeli innovation industry is demonstrating phenomenal growth potential even given the current turbulent economic environment," said Gold.

"In the first half of 2020, Israeli start-ups attracted a record of $5.25 billion investment capital, while the total amount of exits approached $7 billion. We also see that the demand for early-stage capital is growing faster than the amount of the funding available – therefore our aim is to find the right place in that niche of the market."

"Being a part of the Israeli start-up ecosystem and having closed a large number of successful investment deals, we have consistently observed the importance of a clear technological advantage in a company's ability to stand out from the competition. That's the reason our fund's investment strategy will focus on deep-tech companies," said Isaev.

VentureIsrael will also pay close attention to the Enterprise Software segment of Israeli early-stage start-ups.

"Worldwide, we see in increasing corporate demand for digital transformation. The Israeli market has long established itself as an influential and effective provider of innovative solutions for the corporate segment and our fund will seek out the best opportunities in that field," said Turkin.

VentureIsrael's initial closing has attracted substantial attention from private and institutional investors globally. The fund headquarters are based in Tel Aviv, with an international subsidiary in London.

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The US Department of Energy, Israel's Energy Ministry, and the Israel Innovation Authority chose the projects as part of the Binational Industrial Research and Development (BIRD) Energy program.

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The projects are valued at $15.4 million, which includes $9 million of cost-share funding from the companies selected for funding, BIRD said in a statement.

The BIRD Energy program was launched in 2009. Since then and including the projects announced Sunday, it has funded 49 projects with a total joint government investment of $38 million.

Some $49 million in matching funds come from the private sector.

Selected projects address energy challenges and opportunities that are of interest to both Israel and the US and focus on commercializing clean energy technologies that create jobs and support innovative companies, the statement said.

Energy Minister Yuval Steinitz said that the US-Israel collaboration within BIRD "enables both countries to promote joint development of technologies in diversified areas, and bringing them to commercialization in a short time."

"The joint projects that have won this round of financing presented promising technological innovations that address clean energy challenges in both countries and worldwide," Israel Innovation Authority Director Aharon Aharon said in the statement.

A statement by US Secretary of Energy Dan Brouillette said: "The BIRD Energy program continues to deliver results, to the benefit of both the United States and Israel. The innovative clean energy companies awarded to date have commercialized seven new energy technologies and attracted more than $450 million in follow-on investment, creating jobs in both countries."

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