OpenAI is in talks with several investment funds from the United Arab Emirates, including Abu Dhabi-based MGX, about participating in a funding round of at least USD 30 billion. Bloomberg News reports this, citing sources.
The UAE funds have discussed investments totaling up to USD 10 billion, while BlackRock is also considering participating.
OpenAI is targeting a pre-money valuation of around USD 1.4 trillion and has postponed a potential IPO until next year at the earliest. The company most recently raised USD 122 billion in March at a post-money valuation of USD 852 billion.
Existing investors including Thrive Capital, Andreessen Horowitz and the University of California’s fund have also discussed participating. MGX has previously invested in both OpenAI and Anthropic and raised nearly USD 50 billion for AI investments earlier this year.
