OpenAI Seeks $30 Billion Round at $1.4 Trillion Valuation, With UAE Funds and BlackRock in Talks
Summary
OpenAI seeks a $30 billion funding round at a $1.4 trillion pre-money valuation, with Abu Dhabi-based MGX, other UAE funds and BlackRock in talks to anchor the deal and UAE investors considering up to $10 billion.
Key Points
- OpenAI is in talks with UAE funds including Abu Dhabi-based MGX and BlackRock to anchor a $30 billion financing round.
- UAE investors discuss contributing up to $10 billion through a syndicate, while existing backers Thrive Capital, Andreessen Horowitz and the University of California endowment also discuss investments.
- OpenAI seeks a $1.4 trillion pre-money valuation after raising $122 billion in March at an $852 billion valuation and delays an IPO until at least next year.