They’ve filed a S1 [1] last year when attempting to go public. It showed something like a $60M+ loss for the first 6 months of 2024. The IPO didn’t happen because the CEO’s past included some financial missteps and the banks didn’t want to deal with this. At the time the majority of their revenue came from a single source in Abu Dhabi, as well
> the majority of their revenue came from a single source in Abu Dhabi, as well
I live in UAE, whose continuing enthusiasm in AI investment stretches well beyond short-term profit, so having AD on-board seems like a plus not a minus. I'm sure there are specific exceptions, but generally Emirati money has seemed like smart money.
