- OpenAI is seeking at least $30 billion in new funding at a valuation of about $1.4 trillion, with Abu Dhabi-based MGX and other UAE funds discussing as much as $10 billion collectively, and BlackRock also considering participation.
OpenAI is in talks with multiple United Arab Emirates investment funds, including Abu Dhabi-based MGX, to help anchor a new funding round of at least $30 billion, according to a Bloomberg report on the financing discussions. The UAE investors have discussed contributing as much as $10 billion combined, while BlackRock Inc. (NYSE: BLK) is also considering an investment alongside the group.
The fundraising remains ongoing, and the terms could change, according to people familiar with the discussions. OpenAI is seeking the new capital at a valuation of about $1.4 trillion, according to Bloomberg, putting the ChatGPT developer among the most highly valued private companies in the world.
The proposed valuation would represent an increase of roughly 64% from the $852 billion post-money valuation attached to OpenAI's most recent financing in March. OpenAI said at the time that it had closed a round with $122 billion in committed capital.
OpenAI Funding Push Comes as AI Capital Requirements Surge
The scale of the proposed financing reflects the enormous capital requirements facing frontier AI companies as they expand model development, computing capacity and commercial operations.
OpenAI said in March that sustained access to compute was becoming a strategic advantage as it expanded its consumer, enterprise and developer businesses. The company has also been building out infrastructure through initiatives such as Stargate UAE, which includes a planned 1-gigawatt AI data-center cluster in Abu Dhabi, with 200 megawatts expected to come online in 2026.
The funding discussions arrive as the broader AI industry enters an increasingly capital-intensive phase. Goldman Sachs estimates that the five largest US hyperscalers could spend about $1.2 trillion on AI infrastructure in 2027, covering computing, data centers, networking and power capacity.
That spending is already creating new financing structures across the industry. Broadcom's proposed $60 billion financing package for AI chips and infrastructure illustrates how the cost of expanding AI computing capacity is increasingly extending beyond traditional venture capital and corporate cash.
OpenAI's own commercial expansion has also accelerated. Its annualized revenue surpassed $40 billion earlier this year, according to reporting previously covered by Wealthier Today, giving investors a larger revenue base against which to assess the company's rapidly rising private valuation.
The proposed $30 billion raise would therefore provide additional capital as OpenAI continues spending heavily on the infrastructure needed to train and operate increasingly capable AI systems.
UAE Investment and OpenAI's Delayed IPO
The potential participation of UAE funds would deepen an investment relationship that has already expanded through AI infrastructure. OpenAI's Abu Dhabi project is part of a broader partnership involving UAE investment in US Stargate infrastructure and the development of computing capacity in the country.
MGX has also participated in previous AI financing activity, including investments involving OpenAI and Anthropic, according to Bloomberg reporting cited by Reuters and other outlets.
BlackRock's potential participation would add one of the world's largest asset managers to the proposed investor group. The firm is discussing an investment alongside the UAE syndicate, although neither the final investor list nor individual commitments have been settled.
The financing discussions are unfolding alongside OpenAI's decision to postpone its IPO. Chief Executive Sam Altman said in September that OpenAI would not go public in 2026, citing concerns surrounding AI safety and the need to focus on safety and alignment work.
The delay gives OpenAI more time to raise private capital before entering public markets. It also comes as rival Anthropic prepares for a potential listing, with Anthropic's potential $2 trillion IPO valuation putting another major benchmark into the private AI market.
OpenAI's latest financing would also come as investors reassess how much capital the AI sector requires to sustain its growth. The company's March financing was already one of the largest private funding rounds on record, with OpenAI saying the $122 billion commitment would support the next phase of AI development.
For investors watching the eventual OpenAI IPO, the proposed $1.4 trillion private valuation could become an important reference point. It would place significantly greater expectations on OpenAI to translate its revenue growth and enormous infrastructure investments into sustainable economics before public-market investors get the opportunity to value the company.
For now, however, the $30 billion round remains under discussion. Bloomberg reported that the fundraising is ongoing and that its terms could change, meaning the final amount, investor participation, and valuation have not been established.