Saudi Arabia's Public Investment Fund
Saudi Arabia's Public Investment Fund business and news from across the web.
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EA Has Started Informing Staff of Layoffs, Will Affect Multiple Divisions – Rumor
Electronic Arts has reportedly begun informing staff of layoffs across multiple divisions, though the initial round may be small. This news comes amid wider industry trends of job cuts, with Microsoft also expected to implement significant layoffs, particularly affecting studios not directly tied to major franchises like Fallout and The Elder Scrolls. Developers at BioWare had already expressed concerns following EA's acquisition by an investor consortium.
AI Won't Allow 16-Year-Old In A Garage To Make Battlefield 7 Or GTA 7, EA CEO Says
Electronic Arts CEO Andrew Wilson believes that while AI will automate simple quality assurance tasks, it will not enable small, independent developers to create AAA titles like Battlefield or Grand Theft Auto anytime soon. He also stated that AI advancements will lead to short-term job losses but long-term net gains in employment within the industry.
Gaming Influencer Drops Truth Bomb on Community's Arab Attitudes | HappyGamer
Gaming influencer NEACE has criticized the gaming community for perceived Islamophobia and discrimination against Arab countries, suggesting it could deter significant esports investment from Saudi Arabia. He argues that the community exhibits selective outrage, embracing investment from some nations while shunning others, and that this could negatively impact the growth of esports and opportunities for players and creators.
Lucid Motors recalls over 4,000 Gravity SUVs over seat belt defect
Lucid Motors is recalling over 4,000 Gravity SUVs due to a defect in the second-row seat belt anchors, which may not function properly in a collision. The company attributes the issue to a seat supplier's unapproved manufacturing process change. Lucid will inspect and repair affected vehicles, and no injuries have been reported related to this defect.
Disney Should Buy Fortnite And Epic Games, Former Exec Says
A former Disney executive suggests that CEO Josh D'Amaro should consider acquiring a gaming company like Epic Games to drive growth. While Disney has invested in Epic's Fortnite project, a full buyout is seen as a potential bold step. Executives reportedly are interested in acquiring Epic, though founder Tim Sweeney retains control, and past acquisition talks with Electronic Arts did not materialize.
Saudi Arabia firm EGDC now owns 5% stake in Capcom
Saudi Arabia-based Electronic Gaming Development Company (EGDC) has acquired a 5.03% stake in Capcom, amounting to 26,788,500 shares, for pure investment purposes. This follows previous investments by Saudi Arabia's Public Investment Fund (PIF) in Capcom and other major gaming companies like Electronic Arts and Take-Two Interactive.
Saudi Arabia Fund Acquires Another Slice of Resident Evil Requiem Publisher Capcom, Upping Country's Ownership to 10% - IGN
Saudi Arabia's Public Investment Fund (PIF) and its subsidiary, the Electronic Gaming Development Company (EGDC), have increased their ownership stake in Capcom to approximately 10%. This move is described as a pure investment, with Capcom's Resident Evil 4 being highlighted as its fastest-selling installment.
Battlefield 6 developers hit with layoffs as game's popularity starts to decline
Despite strong initial sales and positive reviews, Electronic Arts has laid off employees across multiple studios working on Battlefield 6 due to declining player counts and mixed player reviews. The reasons for the layoffs are officially cited as a 'realignment,' though potential investor acquisition and financial pressures are also discussed as contributing factors.
