OpenAI in talks with UAE funds to anchor $30 bln funding round - Bloomberg
OpenAI is engaged in negotiations with investment funds from the United Arab Emirates, including Abu Dhabi-based MGX, to secure a substantial $30 billion funding round, according to Bloomberg News. The UAE funds have indicated their willingness to invest up to $10 billion collectively within a syndicate, with BlackRock also reportedly in discussions to participate in the round.
The fundraising process is currently ongoing, and the terms of the deal may be subject to change. OpenAI is aiming to raise the $30 billion at a valuation of approximately $1.4 trillion, as it postpones its plans for an initial public offering until at least the following year. In March, OpenAI had raised $122 billion at a valuation of $852 billion.
MGX has previously invested in both OpenAI and Anthropic, and earlier this year, it amassed nearly $50 billion to expedite investments in AI infrastructure and technology.
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