On October 6, Bloomberg reported that OpenAI is in discussions with several UAE investment funds to seek their participation as core investors in a financing round of at least $30 billion. This includes MGX, based in Abu Dhabi, and several UAE funds that plan to form an investment consortium, potentially contributing up to $10 billion in total. BlackRock is also in discussions to participate in this financing round alongside the consortium. OpenAI has also engaged with existing investors such as the University of California endowment fund, Thrive Capital, and Andreessen Horowitz regarding participation. The financing is still in progress, and the final investors and specific terms may change. OpenAI aims to raise funds with a pre-money valuation of approximately $1.4 trillion, offering this valuation as a fixed price to investors without a determined lead investor. In March of this year, OpenAI completed a $122 billion financing round with a post-money valuation of $852 billion. The company has postponed its IPO plans until at least next year, citing a current focus on AI safety efforts.
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OpenAI in Talks for $30 Billion Financing with UAE Funds and BlackRock, Pre-Money Valuation Around $1.4 Trillion
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Telegram Renames Gram Wallet to Money and Launches for All Users
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