OpenAI in Talks to Raise $40 Billion, Eyes Investment from Saudi, Indian, and UAE Entities
OpenAI, the maker of ChatGPT, is reportedly negotiating with investors from Saudi Arabia, India, and the UAE for a significant funding round aimed at raising $40 billion. According to The Information, the potential investors include Saudi Arabia's Public Investment Fund (PIF), India's Reliance Industries, and the UAE's MGX, which already holds a stake in OpenAI.
Global Interest in OpenAI’s Future Expansion
Sources familiar with the discussions indicate that these investors could each contribute hundreds of millions of dollars. OpenAI is looking to secure additional funds to support the development of its cutting-edge AI models and its ambitious infrastructure project, Stargate. This funding round, expected to be led by SoftBank, highlights the global interest in OpenAI's potential to shape the future of artificial intelligence.
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Strategic Talks with India and UAE
Earlier this year, OpenAI CEO Sam Altman met with India’s IT Minister to discuss India’s plans for a low-cost AI ecosystem, sparking further dialogue on potential funding opportunities. Altman also planned a visit to the UAE to explore fundraising talks with the Abu Dhabi-based MGX investment group. Additionally, OpenAI is in talks with Coatue and Founders Fund, aiming to secure at least $100 million from each, as part of its larger fundraising efforts, with projections for an additional $17 billion by 2027.
The exact terms and progress of these discussions remain unconfirmed, as OpenAI, PIF, Reliance Industries, MGX, and SoftBank have not yet responded to inquiries regarding the deal.
