Key Highlights
- OpenAI is in talks with Saudi Arabia’s PIF, India’s Reliance, and UAE’s MGX for $40 billion fundraising.
- Funds will support development of AI models and the Stargate infrastructure project, led by SoftBank.
The Information reported that OpenAI, the maker of ChatGPT, has spoken with Saudi Arabia's PIF, India's Reliance Industries, and existing shareholder United Arab Emirates' MGX about its $40 billion financing.
According to the report, the investors could contribute at least hundreds of millions of dollars each, citing people familiar with the fundraising efforts.
OpenAI is seeking additional funding to support model development and its ambitious infrastructure plan Stargate, with SoftBank leading the way.
Also Read: Finance Ministry Advices not to Use AI Tools Like ChatGPT & DeepSeek
Earlier this year, OpenAI CEO Sam Altman met with India's IT Minister to discuss India's plan to create a low-cost AI ecosystem. Altman then planned to visit the UAE to discuss raising funds with Abu Dhabi investment group MGX, according to two sources familiar with the matter.
The Information claims that as part of its current fundraising round, Microsoft-backed startup is talking about obtaining at least $100 million from the Founders Fund and Coatue. By 2027, the business also hopes to raise an additional $17 billion to fund continued AI research and infrastructure development.
