Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Wednesday, March 20th. I'm Julie Morgan. It's time to cut the burrito at CMG.

Saudi Arabia is already rich in oil. Are they eyeing AI? And Nordstrom is a publicly traded company now, but for how long?

Chipotle Mexican Grill said on Tuesday its board had approved a 50 for one split of its common

stock.

CMG said it plans to seek shareholder approval for the amendment at its upcoming annual

meeting on June 6th.

If the amendment is approved shareholders of record as of June 18th will receive 49 additional shares for each share held, which will be distributed after market closed on June 25th.

The company's shares are expected to begin trading on a post- split basis at the market open on Wednesday, June 26th.

Chipotle also announced a special one-time equity grant for all restaurant general managers,

as well as crew members with more than 20 years of service.

C.M.G closed Tuesday at $ 2,797.

And pre-market, the stock is up more than 5%.

Saudi Arabia is apparently creating

a fund worth about $40 billion to invest in artificial intelligence.

According to the New York Times citing three people briefed on the plan, the Middle

Eastern nation is serious about throwing its monetary weight into technology that is reshaping industries.

Over the last month, representatives of Saudi Arabia's public investment fund have discussed a potential partnership

with one of Silicon Valley's largest private venture capital firms and other

financiers. The fund would possibly make Saudi Arabia the world's largest investor in AI,

as it would be much larger than US venture capital firms typically amass.

Some Wall Street banks are reportedly helping to assemble the fund.

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