In a move that is shaking up both the gaming and defense industries, Saudi Arabia’s Public Investment Fund (PIF) is poised to become the dominant owner of Electronic Arts (EA), the largest video game publisher in the United States, following a $55 billion leveraged buyout. While the deal is being presented as a consortium effort, filings with Brazil’s antitrust regulator reveal that the PIF will control a staggering 93 percent of EA when the dust settles. The remaining stakes, held by private equity firms Silver Lake and Affinity, are comparatively minor—5.5 percent and 1.1 percent, respectively.
According to The Wall Street Journal, this arrangement reverses the typical script for such buyouts, where sovereign wealth funds usually play a supporting role. Instead, Saudi Arabia is stepping into the spotlight, raising questions about its strategy for entering the heart of the American video game industry. As the publisher behind blockbuster franchises like Madden, EA Sports FC, The Sims, and Apex Legends, EA’s future could be dramatically reshaped by its new ownership.
The buyout is not without controversy or complexity. As reported by The Financial Times, Jared Kushner—former President Donald Trump’s son-in-law—was reportedly instrumental in facilitating the deal between Saudi Arabia and EA, although Securities and Exchange Commission filings about the transaction’s timeline do not mention Kushner’s involvement. Both Silver Lake and Affinity, the other investors in the buyout, already receive some of their own investment capital from Saudi sources, deepening the Kingdom’s financial reach.
Yet, the PIF’s aggressive push into gaming comes at a time when Saudi Arabia’s finances are under increasing scrutiny. According to The New York Times, the Kingdom has been pulling investments from other U.S. companies as its finances have grown shakier in recent years. Perhaps that is why the PIF is relying on $20 billion in loans to finance the EA acquisition—a hefty sum that will need to be serviced through either transformative bets on artificial intelligence in game publishing or, more plausibly, significant budget cuts and studio sell-offs. For the hundreds of EA employees who could face layoffs, the future looks uncertain. Meanwhile, Wall Street bankers are set to benefit handsomely: Goldman Sachs, which consulted on the deal, will earn $110 million in fees.
EA shareholders are scheduled to vote on the buyout later this month, with the deal expected to close by mid-2026. If approved, the transaction would mark one of the largest and most consequential foreign takeovers of a major U.S. technology and entertainment company in recent memory.
But Saudi Arabia’s ambitions in the U.S. extend far beyond video games. This week, the U.S. government approved $1.4 billion in military sales to Saudi Arabia and Bahrain, reinforcing the Kingdom’s status as a key American ally in a region marked by volatility and strategic competition. According to the Defense Security Cooperation Agency (DSCA), the packages—now sent to Congress for review—cover helicopter maintenance, aviation training, and upgrades to Bahrain’s F-16 fighter jets. These deals are designed to ensure that Gulf allies remain equipped and operational, while maintaining a delicate regional balance.
Bahrain, a major non-NATO ally of the United States, will receive a $445 million package focused on sustaining its F-16 fleet. The deal includes aircraft parts, missile containers, radar components, guidance system spares, ground support gear, and laboratory equipment. The principal contractors for the project are General Electric Aerospace and Lockheed Martin Aeronautics, the latter being the prime manufacturer of the F-16. Bahrain first acquired the jets in 1990, becoming the first Gulf nation to operate them—a move that modernized its air force and enhanced its ability to cooperate with U.S. and allied forces, especially during crises like the 1991 Gulf War.
Saudi Arabia’s portion of the deal is even more substantial. The Kingdom has requested two $500 million packages: one for maintaining and supplying its helicopter fleet, and another for aviation training. The maintenance package ensures Saudi forces can order replacement parts for heavy helicopters such as Black Hawks, Apaches, and Chinooks, as well as lighter aircraft like Schweizer 333s and Aerial Scouts. The training package is a blanket order allowing the U.S. Army to provide aviation training services for Saudi helicopter units. Notably, these deals allow Saudi aviation units to remain fully maintained and trained without the need for new U.S. personnel or contractors to be stationed in the region.
The timing of these military deals is significant. They were approved shortly after Saudi Crown Prince Mohammed bin Salman visited Washington for high-level meetings with President Donald Trump. Defense cooperation and military sales were central topics of discussion during the visit. In fact, President Trump announced plans to sell Saudi Arabia dozens of F-35 Joint Strike Fighter jets, a move that would make the Kingdom the first Arab country to operate the advanced aircraft—if Congress allows the sale to proceed.
Congress retains the authority to block any of these arms deals within a 30-day review period, a safeguard that has been used in the past over concerns about technology transfer and human rights issues. The 2018 killing of journalist Jamal Khashoggi, which U.S. intelligence linked to Saudi leadership, remains a flashpoint in Congressional debates over arms sales to the Kingdom. Nevertheless, unless lawmakers intervene, the current packages are expected to move forward.
These developments underscore the enduring and multifaceted partnership between the United States and Saudi Arabia—a relationship that now spans entertainment, technology, and defense. By modernizing Bahrain’s air force and keeping Saudi aviation units mission-ready, the U.S. is reinforcing operational readiness and interoperability in a strategically sensitive region. At the same time, Saudi Arabia’s expanding footprint in American industries signals a new era of cross-border investment, one that carries both opportunities and risks.
For now, all eyes are on the upcoming EA shareholder vote and the Congressional review of the latest arms deals. The outcomes will not only shape the future of a beloved video game publisher but also influence the balance of power and partnership in the Gulf for years to come.
