OpenAI Seeks USD 30 Billion from UAE Funds, BlackRock

OpenAI in Talks with UAE Funds and BlackRock for USD 30 Billion Round
OpenAI
Written By:
Akshita Pidiha
Reviewed By:
Ankitha Phulare
Published on: 

OpenAI is in talks with several investment funds from the United Arab Emirates, including Abu Dhabi-based MGX, to help anchor a USD 30 billion funding round, Bloomberg News reported. The UAE investors are discussing a combined investment of up to USD 10 billion, according to the reports. The funds are expected to form a syndicate for the proposed financing.

BlackRock is also discussing a potential investment alongside the UAE group. The asset manager’s participation is still under discussion. The fundraising process is ongoing, and the terms could change. OpenAI and BlackRock declined to comment, while MGX did not respond to requests for comment outside normal business hours.

Valuation Target Nears USD 1.4 Trillion

OpenAI is seeking at least USD 30 billion in fresh capital at a valuation of about $1.4 trillion, according to Bloomberg’s earlier report on the planned financing. The company has pushed back its plans for an initial public offering until at least next year. OpenAI is focusing on artificial intelligence safety efforts as it delays the listing.

The proposed round would add to OpenAI’s already substantial funding base. The company raised USD 122 billion in March at a USD 852 billion valuation, according to Bloomberg. MGX has previously invested in OpenAI and Anthropic funding rounds. The Abu Dhabi investor also raised nearly USD 50 billion earlier this year to accelerate investments in AI infrastructure and technology.

The latest discussions highlight the growing role of Middle Eastern capital in funding large artificial intelligence companies. OpenAI’s talks with UAE investors and BlackRock are still at a stage where the final investor mix could change.

Also Read: Microsoft Bets Big on Gulf AI with USD 10 Billion-Plus Investment Plan

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