- OpenAI is in talks to raise $40 billion with backing from Saudi Arabia’s PIF, India’s Reliance Industries, and UAE-based MGX.
- The funding will support OpenAI’s ambitious “Stargate” infrastructure project and AI model development.
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CEO Sam Altman held strategic meetings in India and the UAE to advance regional investment partnerships.
OpenAI is reportedly in discussions to secure up to $40 billion in funding, according to The Information. The talks involve major global investors, including Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and MGX, an investment company based in the UAE.
Each party is expected to contribute hundreds of millions of dollars, aimed at supporting OpenAI’s large-scale infrastructure initiative known as “Stargate”, as well as continued development of advanced AI models. The funding round is being led by SoftBank Group.
Earlier this year, OpenAI CEO Sam Altman met with India’s Minister of Information Technology to discuss plans for building a low-cost AI ecosystem in the country. Altman also scheduled a visit to the UAE to explore financing options with MGX in Abu Dhabi, signaling OpenAI’s intent to strengthen ties with strategic partners across the Middle East and South Asia.
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