Several investment funds from the United Arab Emirates, including MGX, are in talks to invest in OpenAI’s upcoming funding round, which is seeking at least $30B and could value the company at $1.4T.
According to sources cited in the announcement, the UAE funds are considering a combined investment of up to $10B and may form an investment alliance to support the round. BlackRock is also discussing participation.
OpenAI has reportedly set the valuation in advance, without naming a lead investor so far. Other institutions invited to participate include the University of California’s endowment, an existing investor, as well as Thrive Capital and Andreessen Horowitz, which are considering increasing their investments.
The discussions come as OpenAI continues to delay an initial public offering until at least next year while focusing on AI safety solutions. The company raised a $122B round in March at an $852B valuation, according to Bloomberg data.
MGX has previously invested in OpenAI and Anthropic. The UAE fund also raised nearly $50B earlier this year to support AI and technology infrastructure projects.
Source: Jawlah
