https://wccftech.com/saudi-arabia-public-investment-fund-invest-big-in-games/

If I were to say that video games are big business, I'd be rightfully mocked for pointing out the obvious. However, when you look at the entities dipping into video games, even for smaller amounts, it becomes ever more evident how big these expect games to grow and expand. Propelled forward by COVID-19 lockdowns, games have grown and expanded faster than ever before and as more people get into games, further pushes forward by those well-positioned are inexorable. This is certainly something the Saudi Arabia Wealth Fund (Public Investment Fund) seems to be expecting.

In a filing made yesterday, Public Investment Fund disclosed large holdings in three major video game companies, with a combined investment of $3.28bn. Activision Blizzard is the largest of these investments, the wealth fund having purchased 14.96m shares, with the fund purchasing 7.42m shares of Electronic Arts and 3.97m shares of Take-Two Interactive. These investments aren't small by any sense of the word, making Public Investment Fund the sixth-largest investor in Activision, the sixth-largest in Electronic Arts and the fifth-largest in Take-Two. How their large stake will impact the companies remains to be seen - the fund likely to remain hands-off while profits and share prices trend positive.