Saudi Arabia’s Public Investment Fund ranked as the world’s largest sovereign wealth fund investor in 2025, deploying $36.2 billion in new investments, according to data compiled by Global SWF. The figure marks an 81 percent increase from the fund’s spending in 2024 and underscores a strategic pivot back toward large-scale global deal making after a year of domestically focused investment.
The surge was driven overwhelmingly by a landmark transaction: PIF’s $28.8 billion acquisition of US video-game publisher Electronic Arts. The deal, which secured the Saudi fund a 93 per cent stake following shareholder approval last week, represents one of the largest technology and entertainment takeovers ever undertaken by a sovereign investor. Analysts said the move signals Saudi Arabia’s intent to anchor itself at the centre of the global digital entertainment economy rather than merely taking minority financial positions.
The acquisition marked a sharp contrast with PIF’s strategy in 2024, when capital was channelled largely into domestic projects aligned with Vision 2030, including tourism, infrastructure, manufacturing and new industrial platforms. In 2025, however, the fund resumed a more outward-looking posture, pursuing scale assets abroad that complement the Kingdom’s ambitions in gaming, digital content and advanced technology.
PIF’s growing firepower reflects its rapid balance-sheet expansion. With assets now exceeding $1.15 trillion, the fund met its stated 2025 target ahead of schedule. Governor Yasir Al‑Rumayyan had said last September that PIF was on track to cross the trillion-dollar threshold by year-end, reinforcing Riyadh’s ambition to grow the fund to $3 trillion by 2030.
Despite PIF’s top ranking, Gulf peers remained highly active. The UAE’s Mubadala Investment Company placed second globally, investing $32.7 billion across 40 transactions in ten countries, up nearly 12 per cent from the previous year. Other regional funds—including Abu Dhabi Investment Authority, ADQ, Dubai Investment Corporation, Kuwait Investment Authority and Qatar Investment Authority—collectively committed $126 billion in 2025, accounting for 43 per cent of total sovereign wealth fund spending worldwide.
Technology emerged as a key area of focus, particularly artificial intelligence and digital infrastructure. Gulf sovereign funds invested an estimated $13.4 billion in AI-related assets during the year, spanning data centres, computing infrastructure and digital platforms. The UAE led this push, with Mubadala, ADIA and ADQ together accounting for $7.1 billion, while PIF invested around $300 million in the sector, reflecting a more selective approach tied to strategic platforms rather than broad exposure.
According to SWF Institute, PIF now ranks as the fifth-largest sovereign wealth fund globally by assets, cementing its position as a central force reshaping capital flows across technology, entertainment and the digital economy. Market observers say the scale and direction of Saudi Arabia’s 2025 investments highlight a shift from infrastructure-heavy nation-building toward globally competitive, future-facing industries—using sovereign capital not just to diversify returns, but to influence entire sectors.
