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Despite War, Israel Sees Surge in Multibillion-Dollar Defense, Tech, Energy Deals in 2025

Flags flutter in front of a radom of the “Arrow Weapon System for Germany” pictured in Annaburg, Germany, Dec. 3, 2025. Photo: REUTERS/Axel Schmidt

Despite predictions that the Gaza war would isolate its economy, Israel in 2025 signed a series of multibillion-dollar defense, technology, and energy deals with Western and Arab powers, extending commercial ties even amid massive diplomatic pressure.

Israeli technology acquisitions and public listings totaled nearly $59 billion in 2025, a jump of roughly 340% from the previous year, according to a PwC Israel report released last week, driven by multibillion-dollar deals in cybersecurity, insurance, and fintech and a rebound in IPOs. Multibillion-dollar missile defense, artillery, and munitions contracts were signed with Germany, Greece, and Gulf partners. Israel also approved a natural gas deal worth tens of billions of dollars with Egypt, its largest energy export to date.

Venture capitalist and former Knesset member Erel Margalit said Israel’s innovation economy “proved its resilience” in 2025, “against war, geopolitical pressure, and repeated predictions of slowdown.”

Alphabet’s blockbuster $32 billion acquisition of Israeli cybersecurity firm Wiz was one of the largest cyber transactions on record and accounted for a significant share of Israel’s tech dealmaking in 2025. But even excluding the Wiz deal, Israeli tech exits more than doubled to around $32 billion, according to PwC Israel, including six additional buyouts valued at more than $1 billion and seven IPOs of Israeli-founded companies with a combined valuation of $14.6 billion, up from just $781 million a year earlier.

The momentum also extended to long-term foreign investment. US chip giant Nvidia announced last week that it will build a “multi-billion shekel” R&D campus in northern Israel, expected to become second in size only to the company’s Silicon Valley headquarters. The site, slated to break ground in 2027 near Kiryat Tivon, will employ more than 10,000 people. Founder and chief executive Jensen Huang has described Israel as Nvidia’s “second home,” saying the country is “home to some of the world’s most brilliant technologists.”

Nvidia also committed about $1.5 billion to build Israel’s largest data center in the Galilee, which will house a new supercomputer supporting its AI development. The announcement comes amid reports that Nvidia has agreed to acquire AI chip startup Groq for about $20 billion in cash, in its largest-ever deal. 

Referring to the Israeli R&D center, Huang said: “Our new campus will be a place where our teams can collaborate, invent, and build the future of AI.”

In defense, several large contracts were finalized in recent weeks. Germany last week approved a multibillion-dollar expansion of its purchase of Israel’s Arrow-3 missile defense system, increasing the total value of the agreement to about $6.5 billion, the largest defense export in Israel’s history. Greece last month approved the purchase of PULS launchers from Elbit Systems in a deal valued at about $755 million. In a separate, highly secretive deal, the defense giant last month signed its largest-ever contract, a $2.3 billion agreement to supply an advanced strategic system to a foreign customer widely reported to be the United Arab Emirates.

Energy was another area where Israel closed the year with a headline-making agreement. Israel last week approved a $35 billion natural gas export agreement with Egypt, the largest such deal in the country’s history. Under the agreement, partners in Israel’s Leviathan offshore project, led by Chevron, will supply Egypt with about 130 billion cubic meters of gas through 2040. Roughly half of the proceeds, estimated at 112 billion shekels, will flow to the Israeli state. Prime Minister Benjamin Netanyahu said the deal “greatly strengthens Israel’s position as a regional energy power” and would funnel tens of billions of shekels into the economy and public services.

Egyptian officials, whose government has acted as a mediator in the Israel-Hamas conflict, stressed that the agreement is a commercial transaction “with no political aspects.”

Margalit said the scale of dealmaking in 2025 reflected a return to fundamentals rather than speculative excess. “This was not a hype cycle,” he told The Algemeiner, “but a reaffirmation of Israel’s ability to build technology, particularly in advanced AI verticals, for the hardest and most regulated parts of the real economy: cybersecurity, fintech, insurance, defense, and energy.”

“In these fields, trust, precision, and accountability decide outcomes, and that is why global capital and strategic partners returned to Israel at scale,” he added.

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Nominee for Wisconsin governor appeared with podcast host who defended ‘Camp Auschwitz’ t-shirt

Rep. Tom Tiffany, Wisconsin’s Republican nominee for governor, is facing heat for appearing on a podcast hosted by an online personality with a history of antisemitic remarks and jokes about Adolf Hitler.

“The Quartering” podcast host Jeremy Hambly has said Adolf Hitler had “actually done some good things,” joked with guests about the Holocaust by calling it the “Hall of Cost” and saying it cost “around 6 million bucks,” and defended a “Camp Auschwitz” T-shirt worn during the Jan. 6, 2021, Capitol riot as “dark humor.” In 2023, The Quartering was sponsored by Antelope Hill Publishing, a white nationalist publisher that marked Hitler’s birthday each year by offering discounts on books written by and about the Nazi leader.

Tiffany discussed his gubernatorial bid on a December episode of the podcast, as reported by the Milwaukee Courier — news that emerged after Tiffany had criticized a leading Democratic candidate for appearing with popular progressive streamer Hasan Piker, who has been embraced by Democratic Party candidates even as he has championed terrorist groups as righteous fighters against Israel — leading to accusations he trafficks in antisemitism. In a recent speech to college students, Piker blasted Democrats who “fund ICE” and “fund Israel.”

On the podcast, Tiffany, who is running unopposed on the Republican side to replace Gov. Tony Evers, a two-term Democrat who announced his retirement, also accepted Hambly’s offer to volunteer for his campaign.

In the interview with Tiffany, Hambly said he “will do everything” he can to elect the Republican as governor and offered to help the Tiffany campaign alongside Scott Presler, a prominent “Stop the Steal” activist who has been affiliated with the anti-Islamic group ACT for America.

“I can bring Scott Presler out. We can doorknock for you,” Hambly said. When Hambly asked how supporters could get involved, Tiffany directed listeners to his campaign website to sign up as volunteers.

The resurfaced interview comes as Tiffany has sought to make antisemitism an issue in the governor’s race by criticizing Democratic state Rep. Francesca Hong, a democratic socialist whose campaign has gained momentum in the competitive Aug. 11 Democratic primary, for appearing on a livestream hosted by Piker.

“Remember what [Hong] said the day after we had all these socialists win recent elections?” Tiffany said on The Jay Weber Show last week. “Wisconsin, you’re next.” He later warned that voters “need to wake up” before Hong, whom he said was “going to hang around with an antisemite,” is elected governor.

The Tiffany campaign did not immediately respond to a request for comment about the candidate’s podcast appearance.

Hong defended her appearance on Piker’s show, saying, “Just because I am on a platform certainly does not mean that I endorse everything that has been said by either the hosts or other people who have gone on.”

Wisconsin Republicans have been accused by Democrats of trying to boost Hong in the primary because they believe she would be easier to beat than her rivals in the general election. Recent polls show Hong with a slight lead.

Emily Stuckey, a spokesperson for the Democratic Party of Wisconsin, told the Forward in a statement that “Tiffany is cozying up to antisemitic extremists who have praised Hitler and encouraging them to volunteer with his campaign — it’s clear he is far too extreme to represent Wisconsin.”

The post Nominee for Wisconsin governor appeared with podcast host who defended ‘Camp Auschwitz’ t-shirt appeared first on The Forward.

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Trump rejects Mamdani vow to arrest Netanyahu in NYC

(JTA) — Mayor Zohran Mamdani says he’s still thinking about whether he should arrest Benjamin Netanyahu the next time the Israeli prime minister is in New York City. Not gonna happen, President Donald Trump stepped in on Monday to say.

“Benjamin Netanyahu will not be arrested, in any way, shape, or form, while in the United States of America,” Trump wrote on Truth Social.

Trump’s post came days after Mamdani said that he is in “active conversation” with the city’s Law Department about detaining a foreign leader like Netanyahu, who faces an arrest warrant from the International Criminal Court for alleged actions related to Israel’s war with Hamas. Netanyahu often attends the United Nations General Assembly in Manhattan in September and is planning to do so this year.

“I believe that Prime Minister Netanyahu belongs in The Hague,” Mamdani reiterated, in an interview with the New York Times, referring to the court’s seat in the Netherlands.

He also hedged on his earlier pledge, seeming ready to defer to the city’s lawyers. (The legal consensus has been that a warrant by a court not recognized by the United States is unenforceable. Secretary of State Marco Rubio has said he is seeking the dismantlement of the ICC.)

“I’ve also said that I will follow the laws that we have here in New York City because I believe that there is an importance in following the law as a leader who presides over our city,” Mamdani told the Times. The interviewer, Lulu Garcia-Navarro, prompted him to elaborate. “Meaning that whatever the law allows me to do in New York City, that’s what we will do, but we won’t be writing our own laws to that end,” Mamdani said.

Trump jumped to the defense of Netanyahu, who is up for reelection later this year.

Netanyahu, he said, is busy fighting the Islamic Republic of Iran, and that the “only ones that should be arrested are the people that led Iran into this unprecedented SPIRAL OF DEATH AND DESTRUCTION, something that should have been dealt with years ago, by previous Presidents!”

Trump’s comments come after months of speculation over how an attempted arrest of Netanyahu could pit New York City law enforcement against the United States. Mamdani told reporters after a private meeting with the president last year that the two men did not discuss his vow to arrest Netanyahu. Mamdani has said he would also push for the arrest of Russian President Vladimir Putin, were he to enter New York City.

Some Mamdani Democratic allies were also pouring cold water on the prospect of an arrest.

California Rep. Ro Khanna, who is often aligned with Mamdani’s pro-Palestinian politics, said on the Fox News Channel on Sunday that, in his view, Netanyahu “can come to the U.N. Assembly.”

“The ICC and ICJ have a legal process. That case will go forward,” Khanna said, adding that he’s focused on cutting military aid and stopping weapons sales to Israel. “But, you know, I’m  not for creating a spectacle. The U.N. is a place that people can come to.”

Dan Shapiro, a former U.S. Ambassador to Israel under Barack Obama, speculated that Mamdani’s plan could backfire, since an attempt to arrest Netanyahu would “give him a political boost at home” as Netanyahu fights for reelection. “That would be an own goal,” Shapiro wrote on X.

Republican New York City Council member Inna Vernikov, who is Jewish and has been a staunch Mamdani critic, wrote to Rubio requesting that the State Department issue Mamdani a “stern warning.” She also asked that the department issue an opinion on whether arresting Netanyahu would “violate U.S. law resulting in a prosecution and/or criminal action taken by the federal government against Mayor Mamdani.”

A New York City mayor has previously booted an international leader from a U.N.-related event. In 1995, Rudy Giuliani had Yasser Arafat, chairman of the Palestine Liberation Organization, ejected from a U.N. concert at Lincoln Center, drawing criticism from then-President Bill Clinton’s administration.

Danny Danon, Israel’s Ambassador to the United Nations, wrote on Saturday that Netanyahu will be attending the U.N. General Assembly in September. “And if anyone should be arrested, it is @NYCMayor Zohran Mamdani,” he said.

The post Trump rejects Mamdani vow to arrest Netanyahu in NYC appeared first on The Forward.

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Where does Andy Burnham, the new British prime minister, stand on Israel and antisemitism?

(JTA) — Andy Burnham officially became Britain’s new Labour prime minister on Monday, replacing Keir Starmer who resigned following the party’s disastrous showing in local elections in May.

Starmer left behind a mixed record on antisemitism. He purged the party of its image as hostile to Jews under former party leader Jeremy Corbyn. But at the same time, attacks against Jews in Britain have risen in the aftermath of the Oct. 7, 2023, Hamas terror attack on Israel, and uncertainty is at a high.

Starmer’s successor has spent much of his political career over the past decade cultivating close ties with Britain’s Jewish community. As the former mayor of Greater Manchester, home to one of Europe’s largest Jewish populations, Burnham frequently spoke out against antisemitism, attended Holocaust commemorations and worked closely with Jewish communal organizations.  

Yet in the lead-up to his installation as prime minister, Burnham also signaled a shift in Labour’s mainstream position on Israel and Gaza, including support for greater pressure on Israel.

Burnham’s comments about Labour’s leadership contest prompted a sharp rebuke from the Board of Deputies of British Jews and the Jewish Leadership Council, which expressed “significant concerns” over his framing of Gaza and Israel’s war with Hamas. The umbrella groups also said they welcomed his commitment to tackling antisemitism.

Here is a look at some of Burnham’s views on the subjects and how they might impact his party’s policies going forward.

Early support for Israel and a two-state solution

During Labour’s 2015 leadership contest, Burnham said at a Jewish community debate that his first foreign trip, should he win the Labour leadership, would be to Israel. He opposed a boycott of Israel, asking, “What message would it send?” while stating that he supported a negotiated two-state solution.

In a questionnaire sent to him that year by the Palestine Solidarity Campaign, he also stated that he supported “two states living side by side in peace, and recognized by all of their neighbors.” However, he added that he supported “an end to occupation and illegal settlement building by the Israelis, and an end to the rocket and terror attacks by the terrorist group Hamas.”

He also made it clear at the time that he did not support West Bank settlements, telling the PSC, “Labour recognizes that the settlements and their continued expansion remain key obstacles to resolving the conflict, as [then party leader] Ed Miliband has said, they are both illegal and immoral.”

Labour’s antisemitism crisis

Burnham was vocal about tackling antisemitism when the Labour Party became embroiled in allegations of antisemitism under Corbyn’s leadership between 2015 and 2020,.

Corbyn had in 2012 mural defended a mural depicting hook-nosed Jewish bankers playing Monopoly on the backs of exploited workers. (He later said he regretted the defense.) He called representatives of Hamas and Hezbollah “friends.”

Burnham told the Board of Deputies in 2019 that Labour had failed to deal with antisemitism complaints “firmly, quickly and decisively” and warned that the party had lost the confidence of many Jewish voters.

“It is inconceivable to me that a party which has prided itself on its record on racism could have become embroiled in an antisemitism crisis,” he said.

In 2020, the U.K.’s Equality and Human Rights Commission found Labour had committed unlawful acts of harassment and discrimination related to antisemitism.

Oct. 7 and rising antisemitism

In the aftermath of the Oct. 7 attack, Burnham issued a statement with his deputy mayor saying, “We condemn without reservation the appalling attacks in Israel by Hamas. Nothing justifies the taking of innocent lives in such a barbaric and indiscriminate manner.”

He also stated that “Israel had a right to defend itself, and protect its citizens, in line with international law”

He told the Jewish community that he had spoken with Greater Manchester’s chief constable, who assured him there would be an increased police presence alongside Jewish community organizations. Burnham said local leaders were “determined that all our communities in Greater Manchester will be kept safe” and that “we will never tolerate any form of hatred on our streets.”

Manchester synagogue terror attack

Barely two years later on Yom Kippur 2025, Manchester became the target of a major terror attack, outside Heaton Park Hebrew Congregation. Two people were killed amid a police response.

“Manchester stands together and we will not allow division in our communities,” Burnham said, visiting the synagogue soon after what he described as an attack on the entire city.

Golders Green ambulance attack

Burnham spoke out in April when four Hatzola volunteer ambulances were set ablaze in London’s heavily Orthodox Golders Green neighborhood. “This is another terrible incident that will concern Jewish communities in London and in Greater Manchester who have faced appalling antisemitic attacks in recent months,” he said.

Recent comments on Gaza

Burnham has been critical of Israel’s military campaign in the aftermath of Oct. 7. He doubled down in a leadership campaign video released last week and took his own party to task.

He condemned Hamas and once again rejected antisemitism, but he argued Britain should “do more to put pressure on the Israeli government,” including considering further restrictions on arms exports and action against illegal West Bank settlements.

“I know many people feel that at the start of Israel’s military action in Gaza, my party didn’t get it right, and I am sorry about that,” he said. The party was “too slow to call for a ceasefire.”

He called images from Gaza “a scar on our collective conscience.”

His comments reflect a parliamentary push across the board that Britain should do more to take action against Israel, including supporting a ban on all Israeli goods coming from the West Bank — something that Ireland and other European countries have been pushing for.

In his video, Burnham stopped short of describing Israel’s actions as genocide, saying that such a determination should be made by international courts.

Jewish communal reaction

The video drew a swift response from the Board of Deputies of British Jews and the Jewish Leadership Council. Burnham had seen “first hand the links between hatred of Israel, antisemitic extremism and deadly violence against British Jews,” the groups said.

They urged Burnham and other political leaders to “show the utmost care in their rhetoric” at a time when antisemitism in Britain had become “more normalized, more extreme and more violent.”

British Jews will watch closely how Burnham balances his longstanding engagement with the Jewish community and his increasingly critical stance toward the Israeli government.

The Campaign Against Antisemitism’s Chief Executive Gideon Falter read aloud an open letter to Burnham on Monday calling on him to take a stand against the rise in antisemitism in the country. “Your legacy will not be remembered solely in terms of tax rates and hospital waiting times,” Falter said. “It will be whether Jews were murdered or thrived in Andy Burnham’s Britain.”

Board of Deputies President Phil Rosenberg congratulated Burnham on X, and welcomed the new prime minister’s “early commitment to tackling antisemitism,” and that the Board “will work with his administration towards the U.K. playing its strongest role in global peace and security.”

Ephraim Mirvis, the country’s chief rabbi, posted a photo on X of himself and Burnham and offered a blessing. “He assumes the immense responsibility of leadership at a time of great challenge, both at home and abroad,” Mirvis said. “May he be blessed with the wisdom, strength and good judgment to keep our country safe and may his service bring prosperity and harmony for all.”

The post Where does Andy Burnham, the new British prime minister, stand on Israel and antisemitism? appeared first on The Forward.

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