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Context Labs Receives Strategic Investment from 22/x to Establish Abu Dhabi Regional HQ for AI Data Infrastructure

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The Abu Dhabi-based investment platform backs Context Labs’ regional growth in AI Data Infrastructure, the verified data foundation for sovereign AI and industrial applications across the MENA region.

ABU DHABI, UAE, Nov. 2, 2026 /PRNewswire/ — Context Labs B.V. (“Context Labs”), the AI Data Infrastructure company, today announced a strategic investment from 22/x, the Abu Dhabi-based AI-native investment and incubation platform established by the Nowais family. The two companies also signed a long-term agreement to establish Context Labs’ regional headquarters in Abu Dhabi and accelerate expansion in the Middle East and North Africa (MENA).

The agreement with 22/x covers:

A strategic equity investment by 22/x in Context LabsEstablishment of a regional headquarters for Context Labs in Abu Dhabi to serve customers and partners across the GCC and wider MENA regionRegional deployment of Context Labs’ AI Data Infrastructure, including the Context Labs AI Distillery™ for sovereign AIDevelopment and deployment of industry applications for priority sectors, including energy, utilities and critical infrastructureCollaboration to deploy and integrate into the existing assets and ecosystem in the Middle East and North Africa

Context Labs builds AI Data Infrastructure, the trusted data layer that enterprise AI depends on, and delivers the Context Engine for trusted and secure sovereign AI. Its platform ingests fragmented operational, engineering and enterprise data, structured and unstructured, verifies it cryptographically at the source, and maintains a tamper-proof data fabric with full lineage and provenance, so every AI model, agent and decision can be traced back to verified data.

A library of industry-specific ontologies gives that data context in the language of each sector, from energy, chemicals and mining to commodities trading, logistics, utilities, pharmaceuticals and financial services, so the platform scales across industries and extends readily to new ones. Use-case applications, from operations to compliance, are built on that common foundation. The Context Labs AI Distillery™ extends that infrastructure into the enterprise, enabling organizations to run frontier and open-weight AI models and semantic context agents inside their own data centers, on their own verified data, with full decision provenance.

In energy and critical infrastructure, this provides a trusted foundation for connecting operational performance, emissions intelligence and AI-enabled decision-making. By bringing fragmented data into a verified, auditable environment, the platform can help operators demonstrate the integrity of their energy, respond to evolving market and regulatory requirements, and support more resilient operations.

22/x will collaborate with Context Labs to scale this infrastructure and its applications across the MENA region, giving organizations making significant commitments to enterprise AI a verified data foundation that builds trust and delivers measurable ROI. The partnership will draw on 22/x’s expertise in incubating deep-tech and applied AI for critical infrastructure operations, and on its longstanding relationships with sovereign-aligned compute, data and distribution channels in the region. The focus is not simply to bring technology into the region, but to establish tangible capabilities, long-term partnerships and sustainable outcomes.

“AI is only as good as the data underneath it, and enterprises have to be able to verify that data before AI can be trusted to act on it,” said Dan Harple, Founder, Chairman and CEO of Context Labs. “Our cross-industry ontologies, built on a single AI Data Infrastructure, let us move with the region’s national champions across every sector they lead. With 22/x, we are bringing them the infrastructure to own their IP, own their AI, and prove the integrity of their data to partners, regulators and markets worldwide.”

“Through Arab Development, we have predominantly served the oil and gas industry, bringing global expertise and technology into the UAE and building lasting local partnerships and industrial capability. As automation, robotics and artificial intelligence reshape these industries and the wider economy, we recognized the need for a dedicated, future-focused vehicle to support the new digital economy. We established 22/x to build on that foundation, helping local industries adopt these technologies, modernize their operations and develop the capabilities to compete in an increasingly digital world,” said Yousif Al Nowais, Chairman and Managing Director of 22/x.

“Our partnership with Context Labs brings an essential foundation to that ambition: trusted data that enables businesses to apply AI with confidence while retaining control over their information. For us, this transition must also create opportunities for Emiratis to develop specialist skills, contribute to deployment and lead the industries of the future. Our ambition is not simply to bring technology to the UAE, but to build the knowledge, capability and long-term value that remain here,” said Mohammed Yousif Al Nowais, Director and Board Member of 22/x.

“Our family has built deep trust across the Emirates and the wider region, and that trust is the foundation on which 22/x stands. Our role is to turn it into execution, not simply to introduce another AI platform, but to make AI work in real operating environments,” said Ahmed Nasser Al Nowais, Chief Executive Officer and Board Member, 22/x. “From Abu Dhabi, 22/x will establish Context Labs’ regional headquarters, connect it with the sovereign compute, data and industrial partners who shape this market, and bring Emirati talent into the work from the outset. Together, we will work with customers on clearly defined use cases and build a repeatable pathway from first deployments in the UAE to scale across the GCC and MENA. Success will be measured by practical outcomes: better operational visibility, more auditable decisions and stronger control over enterprise data, all while holding to our National values: build here, build to last, and build in service of the Nation.”

About Context Labs B.V.

Context Labs is an AI Data Infrastructure company delivering the Context Engine for Trusted and Secure Sovereign AI. Its platform turns complex, fragmented operational, engineering and enterprise data into continuously verified, auditable information that AI systems, people and markets can trust. Built on an extensible library of industry-specific ontologies that map to established standards published by ISO and other standards bodies, the platform is deployable across sectors, with use-case applications delivering decision-ready intelligence on a common foundation. The Context Labs AI Distillery™ lets enterprises run sovereign AI inside their own data centers, so they own their IP and own their AI. Formed out of MIT research and led by a team that helped drive the at-scale growth of the Internet, Context Labs has offices in Amsterdam, Cambridge (Mass.), Houston and Abu Dhabi. Learn more at www.contextlabs.com.

About 22/x

22/x is an Abu Dhabi-based AI-native platform founded by the Al Nowais family. Operating across advisory, infrastructure, investment and incubation, it helps global technology businesses establish and scale their presence in the Middle East, with a focus on applied AI and critical infrastructure. 22/x connects international innovation with regional market knowledge, industrial relationships and capital to build lasting local capability and support long-term economic value creation. Learn more at www.22x.ae.

Media contacts

Context Labs: press@contextlabs.com | 1-617-902-0932 | contextlabs.com/resources

22/x: info@22x.ae

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Bybit Renews P2P Super Deal with Up to 99% Savings for New Users

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DUBAI, UAE, Nov. 3, 2026 /PRNewswire/ — Bybit, the New Financial Platform trusted by more than 80 million users worldwide, has launched the latest round of its Bybit P2P Super Deal, a new-user exclusive promotion offering guaranteed coupons worth up to 99 USDT and savings of up to 99% on eligible P2P orders.

From now to March 30, 2027, P2P Super Deal continues Bybit’s long-running tradition of rewarding newcomers with meaningful incentives as they begin their crypto journey on the platform’s popular peer-to-peer marketplace.

Eligible new users may complete a first-time deposit or trade of just 10 USDT via Bybit P2P to unlock a guaranteed coupon valued between 10 and 99 USDT, which can be applied to the next eligible P2P order for savings of up to 99%.

How It Works

Signing up and verifications: New users must create a Bybit account and complete the necessary identity verification and visit P2P Super Deal to confirm eligibility.First deposit starting at 10 USDT: Participants can locate the “P2P Super Deal” task on the Bybit P2P Trading page and complete an initial deposit.Lucky draw chance: Upon completing the deposit task, a spin of the lucky draw wheel offers a chance to win a coupon valued at up to 99 USDT.Applying the coupon: The coupon can be applied to the next P2P order, reducing the fiat amount paid and delivering savings of up to 99%.

The latest Bybit P2P Super Deal presents a bonus opportunity. For participants who complete an eligible trading or deposit task at 100 USDT or more, an additional spin is available for them to unlock more chances to win higher-value rewards.

Bybit offers year-round benefits for the trading community across its products and services. Bybit P2P combines zero trading fees, support for a wide range of fiat currencies, and an enterprise-grade escrow system, making it an intuitive and powerful platform for both new and experienced traders.

More details on event mechanics, eligibility, and terms and conditions are available at: Learn more about the P2P Super Deal

#Bybit  / #NewFinancialPlatform 

About Bybit

Bybit is The New Financial Platform.

We believe every person should have access to every financial opportunity on earth. That’s why we’re building the first intelligent platform that connects anyone, anywhere to the world’s finance.

Trusted by more than 80 million users worldwide, Bybit brings together investing, trading, payments, and wealth-building in a single secure and intelligent ecosystem. Through the combination of AI-powered technology, deep global liquidity, robust security, and transparent operations, Bybit makes global finance more accessible, efficient, and empowering for everyone.

Built for everyone. Powered by intelligence. Open to the world.

Learn more at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
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Asset manager margins squeezed as infrastructure bill climbs, PwC finds

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Infrastructure moves up the strategic agenda as asset managers confront margin pressure

LUXEMBOURG, Nov. 3, 2026 /PRNewswire/ — Infrastructure is moving from the back office to the centre of asset managers’ strategy. With profit per AuM down 19% since 2018 and projected to fall another 9.1% by 2030, decisions on what to build, buy or access through partners now shape how firms compete, according to PwC’s Global Asset Management Infrastructure: Rethinking the industry’s piping report. 67% say fee compression is limiting their ability to invest.

Spending is also tied to the past: only 23% of asset managers direct most of their technology budget to new capabilities, while 29% spend more than 70% of it maintaining legacy systems.

Surveying 150 asset managers and 50 infrastructure providers, the report finds AI is sharpening these constraints. Some 24% cite data fragmentation and 17% legacy systems as major barriers to scaling AI.

Roland Kastoun, Global Asset and Wealth Management Advisory Leader, PwC, notes: “The industry’s profits per dollar managed have fallen by almost a fifth, and the bill for the pipes keeps rising. The managers who survive the next five years won’t be the ones with the flashiest AI, but rather the ones who fixed the so-called boring stuff first.”

Market data is seen as poor value for money, with 58% ranking it among the most expensive infrastructure layers relative to the value delivered, ahead of regulatory reporting systems (47%) and core technology platforms (46%).

Meanwhile, some 70% of infrastructure providers expect a larger share of industry revenues, while 68% name hyperscale cloud providers as the main emerging threat.

“Seven in ten infrastructure providers expect to take a bigger slice of the pie, which tells you where the power in this industry is quietly shifting,” said Björn Ebert, Financial Services Leader, PwC Luxembourg.

Some 44% favour hybrid sourcing models combining in-house, bought and partnered capabilities, compared with 21% who prefer to buy, 18% to partner and 13% to build in-house.

The report identifies four emerging infrastructure archetypes, namely infrastructure orchestrators, digital and tokenisation platforms, specialist modular providers and integrated asset managers. No single model fits every firm. Each must decide what to own, what to standardise and where a specialist can do the job better. Those who decide early will be better placed to protect margins through 2030.

Media Contact
Penta Group, pwc@pentagroup.com

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Temu Partners with Latvian IT Cluster to Help Local Businesses Grow Online

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RIGA, Latvia, Nov. 3, 2026 /PRNewswire/ — Temu has signed a memorandum of understanding (MoU) with the Latvian IT Cluster (Latvijas IT klasteris) to support Latvia’s digital business ecosystem, providing local small and medium-sized enterprises (SMEs) with broader access to digital tools, knowledge, and international e-commerce opportunities.

Under the MoU, Temu will collaborate with the Latvian IT Cluster on its programs and activities, host educational webinars and exchange insights with local industry experts. The collaboration brings together Temu’s experience as an international marketplace operator and Latvian IT Cluster’s work helping businesses across sectors adopt digital tools.

Temu and Latvian IT Cluster hosted “The Path to Growth: Navigating E-commerce for European SMEs” on Oct. 20, drawing participants from local businesses across various industries. The webinar covered Temu’s Local Seller Program, logistics and regulatory requirements, and included a Q&A with Temu representatives.

“We are delighted to welcome Temu as a member of the Latvian IT Cluster. The involvement of internationally recognized companies in our ecosystem creates new opportunities for Latvian businesses to gain valuable knowledge, build connections, and strengthen their competitiveness,” said Aiga Irmeja, Chair of the Board at Latvian IT Cluster. “We are pleased that our partnership has already resulted in joint activities exploring e-commerce opportunities in Europe, and we hope this is just the first step towards further joint initiatives that will support the presence of Latvian businesses in the digital economy and international markets.”

The focus on practical guidance and direct dialogue responds to the challenges of complexity and connection, two of the key barriers to growth identified in Temu’s recent Small Business Insights Report, which was informed by meetings and discussions with over 100 European trade organizations.

“We want more small businesses in Latvia to benefit from the opportunities that e-commerce creates,” said a Temu spokesperson. “Working with Latvian IT Cluster brings us closer to local entrepreneurs, helping us understand their needs and support their ambitions to reach new customers and grow across Europe.”

Temu opened its Local Seller Program to businesses in Latvia in October 2025. In March 2026, it signed a logistics MoU with national postal operator Latvijas Pasts to support delivery and returns for local sellers.

About Temu

Temu is a global e-commerce platform connecting consumers with millions of manufacturers, brands and business partners. Operating in more than 90 markets worldwide, Temu is committed to providing affordable, high-quality products that enable customers to live better lives.

About Latvian IT Cluster

Latvian IT Cluster is an ICT association with around 100 members and 20 years of experience in advancing Latvia’s digital ecosystem. Through national and international initiatives, including the European Digital Innovation Hub, Digital Europe, Team Latvia and AI Studio, the association fosters innovation, digital transformation, knowledge sharing and cross-sector collaboration.

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