Saudi Arabia Pauses The 170km 1.7km Line; BYD To Enter F1 Racing; The US Government’s Money Printer Showers Quantum Computing Stocks; And Netflix Launches First Daily Live Show
- Dipo Owolabi
- 2 days ago
- 5 min read
Saudi Arabia is scaling back some of its biggest futuristic ambitions after pausing major parts of the trillion-dollar NEOM project, while quantum computing stocks surged as the U.S. government prepared to award $2 billion in grants to companies racing to build next-generation computing systems. Meanwhile, BYD is reportedly exploring a Formula One entry in a move that could dramatically expand its global brand ambitions and Netflix is launching its first-ever daily live show as it pushes deeper into real-time entertainment, and All this and more in today’s Read It And Eat! |
Markets as of 22nd of May 2026.. Cells in RED mean that the value is down, cells in Green mean the value is up.
MAJOR HEADLINES
Saudi Arabia Pauses 170km; The Line Project After Scaling It Down Significantly
Saudi Arabia’s NEOM has delayed further work on The Line, the planned 170-kilometer long dual skyscrapers once projected to cost more than $1 trillion until at least after 2030 as the kingdom’s sovereign wealth fund shifts spending toward developing infrastructure like ports and data centers.
NEOM has also delayed several major tourism projects, including Red Sea destinations and the Trojena mountain resort, until after 2030. Instead, Saudi Arabia is shifting focus toward more practical projects like OXAGON, the industrial and port city on the Red Sea, where it plans to invest about $3 billion in trade infrastructure, utilities, and AI-focused data center development.
The decisions are the result of a strategic review conducted by NEOM’s Chief Executive Aiman al-Mudaifer after his appointment last year. As part of that review, NEOM has also further scaled down ambitions for how many people will live in NEOM by 2030: the target is now up to 100,000 people. At one point, NEOM executives had envisioned 1.5 million residents by the end of the decade before revising the forecast down to 300,000 two years ago. Semafor
Saudi Arabia Pauses 170km; The Line Project After Scaling It Down Significantly
Saudi Arabia’s NEOM has delayed further work on The Line, the planned 170-kilometer long dual skyscrapers once projected to cost more than $1 trillion until at least after 2030 as the kingdom’s sovereign wealth fund shifts spending toward developing infrastructure like ports and data centers.
NEOM has also delayed several major tourism projects, including Red Sea destinations and the Trojena mountain resort, until after 2030. Instead, Saudi Arabia is shifting focus toward more practical projects like OXAGON, the industrial and port city on the Red Sea, where it plans to invest about $3 billion in trade infrastructure, utilities, and AI-focused data center development.
The decisions are the result of a strategic review conducted by NEOM’s Chief Executive Aiman al-Mudaifer after his appointment last year. As part of that review, NEOM has also further scaled down ambitions for how many people will live in NEOM by 2030: the target is now up to 100,000 people. At one point, NEOM executives had envisioned 1.5 million residents by the end of the decade before revising the forecast down to 300,000 two years ago. Semafor
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Chinese EV Giant BYD In Talks To Enter Formula One With Ex-Red Bull Chief
BYD, China’s largest electric vehicle maker, is reportedly in talks to enter Formula One alongside a former senior executive from Red Bull Racing, according to the Financial Times. The discussions mark a potentially massive move by BYD to expand its global brand presence as competition intensifies in the electric vehicle industry and Formula One experiences booming international popularity.
An entry into Formula One would place BYD directly into one of the world’s most visible and technologically advanced motorsport ecosystems, where automotive companies increasingly use racing to showcase engineering capabilities and strengthen global consumer appeal. Analysts say the move could help BYD position itself not just as a Chinese EV manufacturer, but as a premium international automotive technology brand capable of competing with Western rivals such as Ferrari, Mercedes, and Porsche in prestige and innovation.
The talks also highlight how Formula One has become an increasingly attractive platform for technology, automotive, and energy companies looking to align themselves with high-performance engineering and sustainability narratives. With the sport experiencing rapid commercial growth driven by younger audiences and global streaming exposure, a BYD entry would further underscore China’s expanding influence across the future of mobility, advanced manufacturing, and global sports business. Financial Times
Netflix Is Launching Its First Daily Live Show
Netflix is launching its first-ever daily live show, according to CNN, marking a major expansion of the streaming giant’s push into real-time programming as competition intensifies across the entertainment industry. The move signals Netflix’s growing ambition to evolve beyond traditional on-demand streaming into a broader media platform capable of competing with television networks, sports broadcasters, and social media platforms for live audience attention.
The company has spent the last two years aggressively experimenting with live programming, including sports events, comedy specials, reality reunions, and celebrity-driven broadcasts. Executives believe live content can increase user engagement, reduce subscriber churn, and create appointment-style viewing experiences that streaming platforms have historically struggled to replicate. Analysts say a successful daily live format could open the door for Netflix to expand further into news-adjacent programming, talk shows, sports coverage, and interactive entertainment.
The launch also reflects a broader shift happening across the streaming industry as platforms race to diversify revenue streams and keep audiences inside their ecosystems for longer periods of time. Investors have increasingly rewarded companies that can combine subscription revenue with advertising, live events, and culturally relevant programming. For Netflix, the daily live show represents another step in transforming itself from a movie-and-TV streaming service into a full-scale global entertainment network. CNN
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