OpenAI In Talks With UAE Funds And BlackRock Over New Funding Round

Bloomberg reports OpenAI is negotiating with investment funds from the UAE and BlackRock to help fund its new $30 billion round.
OpenAI logo symbolizing the company's $30 billion funding round talks with UAE funds and BlackRock
OpenAI logo pictured as reports emerge of a $30 billion funding round talks with UAE investment funds and BlackRock. (Archive photo: REUTERS / Dado Ruvic)
Gulf Investors Eye A Stake In OpenAI

OpenAI is reportedly discussing a new investment with funds from the United Arab Emirates and the asset manager BlackRock. The talks center on OpenAI’s $30 billion funding round, Bloomberg reported, citing people familiar with the matter.

“OpenAI is negotiating with several investment funds from the United Arab Emirates, including Abu Dhabi based MGX, about their participation as key investors in a $30 billion funding round, according to informed sources,” Bloomberg wrote.

MGX And Other Emirati Funds May Form A Joint Group

Bloomberg noted the Gulf funds could team up to form a syndicate. Together, they might invest as much as $10 billion into OpenAI’s funding round.

BlackRock Also Weighs Joining The Deal

“BlackRock Inc. is also negotiating participation in this round alongside the syndicate, sources said,” Bloomberg added. This suggests growing interest from major Western investors in OpenAI’s expansion plans.

Altman Rules Out An IPO This Year

OpenAI chief executive Sam Altman earlier said the company will not go public in 2026. He cited concerns over AI safety as a key reason. Altman believes it is possible to build an AI system that humans could not control. Anthropic chief executive Dario Amodei has said powerful AI models may resist human attempts to stop them.

ChatGPT’s Explosive Growth And Musk’s Early Exit

The chatbot ChatGPT became hugely popular after its launch in late November 2022. It gained its first million users in under a week. American billionaire Elon Musk helped found OpenAI in 2015. He later cut all ties with the startup.


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    Mayur Mohta

    Mayur Mohta, PhD in Finance, is an expert in international trade, finance, business strategy, and marketing, with 8+ years of professional and 4 years of teaching experience. He writes on global economic and trade developments for BRICS Times.

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