The kingdom is now the largest single investor for U.S. startups, an unsettling fact for Silicon Valley
Crown Prince Mohammed bin Salman has directed at least $11 billion of Saudi money into U.S. startups since mid-2016, either directly or through SoftBank Group Corp.’s $92 billion tech-focused Vision Fund, to which the Saudis committed $45 billion
.. Some of tech’s most prominent young companies have welcomed Saudi money, including Uber Technologies Inc., office-sharing company WeWork Cos. and augmented-reality device maker Magic Leap Inc. For Uber, the situation could be particularly dicey: A prominent Saudi official sits on its board.
.. . Saudi’s Public Investment Fund has committed another $4.9 billion to Uber, Magic Leap and electric-car maker Lucid Motors Inc.