Data · October 8, 2026
OpenAI Negotiates $30 Billion Funding Round with UAE Funds and BlackRock
OpenAI is reportedly in discussions to secure a $30 billion funding round, with several investment funds from the UAE involved in the negotiations. Among these, MGX, based in Abu Dhabi, is expected to act as a cornerstone investor to support the funding initiative for the developer of ChatGPT.
Sources indicate that these UAE funds are planning to form an investment consortium to participate in this funding round. Additionally, it has been mentioned that the total contributions from these UAE funds could reach as high as $10 billion.
BlackRock Inc. is also reportedly in talks to join this funding round alongside the consortium. The negotiations are still ongoing, and various details may change as the process unfolds.
According to previous reports, OpenAI aims to raise at least $30 billion, with a pre-funding valuation estimated at $1.4 trillion. The company has stated that its current focus is on artificial intelligence safety, leading to the postponement of its initial public offering (IPO) plans until at least next year. OpenAI's last funding round occurred in March of this year, raising a total of $122 billion with a valuation of $852 billion.
Leading AI companies, including OpenAI and Anthropic PBC, have sought funding from wealthy Middle Eastern investors to meet the significant capital requirements for developing cutting-edge AI software and operations.
MGX has previously participated in funding rounds for both OpenAI and Anthropic. Reports indicate that this investment institution completed nearly $50 billion in fundraising earlier this year, aimed at accelerating its investments in AI infrastructure and related technologies.
Additionally, OpenAI has been in communication with existing investors, including the University of California endowment fund, inviting them to join this funding round. Previous investors Thrive Capital and Andreessen Horowitz are also discussing potential additional investments.
Sources indicate that, unlike typical venture financing, while a lead investor has not yet been confirmed, OpenAI has already provided investors with a fixed pre-funding valuation of $1.4 trillion. Typically, investment firms submit investment terms and negotiate with the company over who will take the lead in the funding round.