OpenAI Discusses $40bn Funding with UAE, Saudi Investors
OpenAI aims to raise $40 billion at a $300 billion valuation. This plan reflects the company’s goal to advance AI research and expand its computing infrastructure. According to The Information, OpenAI is in talks with several major investors. These include the UAE’s MGX, Saudi Arabia’s Public Investment Fund (PIF), and Mukesh Ambani’s Reliance Industries. Notably, SoftBank is leading the fundraise.
Although Reuters sought confirmation, none of the involved parties, including OpenAI and SoftBank, responded. Still, these discussions highlight OpenAI’s efforts to secure diverse funding sources. Earlier this year, CEO Sam Altman met India’s IT Minister to discuss developing a low-cost AI ecosystem. Furthermore, he planned to visit the UAE to discuss funding with MGX, according to unnamed sources.
Strategic Partnerships and Growth
On March 31, OpenAI announced the new funding round publicly. The company stated this would help push AI boundaries and serve the 500 million weekly ChatGPT users. “We’re excited to be working in partnership with SoftBank Group,” OpenAI said. They emphasized SoftBank’s expertise in scaling transformative technology.
Besides SoftBank, reports say OpenAI has talked with other investors. For example, it discussed raising at least $100 million from Coatue and Founders Fund. Additionally, an unconfirmed CNBC report claimed OpenAI recently surpassed $10 billion in annualized recurring revenue. This figure nearly doubles the $5.5 billion reported in December last year.
Looking Ahead
These fundraising efforts reflect OpenAI’s rapid growth and ambition. By securing large-scale investments, the company aims to fuel breakthroughs in AI. Its focus remains on scientific discovery, personalized education, creativity, and ultimately artificial general intelligence (AGI). OpenAI’s partnerships with global investors position it well to achieve these goals.
Meanwhile, the company continues to expand its global reach, collaborating with major players in the Middle East and India. This strategy will likely play a key role in OpenAI’s future development and impact.
