The announcement comes on the heels of a $3B investment in Nintendo Saudi Arabia’s sovereign wealth fund has made a $1 billion investment in Embracer Group, a Swedish game and media holding company, according to a report by Bloomberg.
This is not the first major investment in the gaming and media space by Saudi Arabia.
Nevertheless, the United States government maintains a strong relationship with Saudi Arabia, including economic and defense partnerships around the world.
Aggressive investments in the media landscape such as these align with the overarching goals of the Saudi PIF.