OpenAI Courts $30 Billion From UAE Sovereign Wealth and BlackRock at $1.4 Trillion Valuation
- On Tuesday, OpenAI launched efforts to raise $30 billion at a $1.4 trillion valuation, postponing its initial public offering to at least 2027 while prioritizing AI safety initiatives.
- OpenAI is targeting United Arab Emirates funds, including Abu Dhabi-based MGX, and BlackRock to anchor the round, leveraging existing partnerships between these investors and major technology firms.
- Unlike typical venture rounds where a lead investor negotiates terms, OpenAI is presenting the $1.4 trillion valuation as a fixed price with no lead investor yet chosen.
- Abu Dhabi-based MGX may contribute as much as $10 billion, while existing backers including Thrive Capital and Andreessen Horowitz have discussed participating in the syndicate.
- These discussions reflect intense capital demands across artificial intelligence firms, as Abu Dhabi-based MGX raised close to $50 billion earlier this year for infrastructure acceleration.
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30 Articles
OpenAI, The Money Abyss, Prepares to Consume Another $30 Billion
OpenAI and its CEO Sam Altman have put together a string of incredibly no good, terrible, horrible news cycles in recent weeks, and yet investors are pouring tens of billions more into the money pit even as safety researchers exit the company, the US Senate holds hearings, and proposes legislation, the company’s president scales back […]
OpenAI Seeks $30B at $1.4T Valuation as Altman Faces Bipartisan Criticism
OpenAI is pitching a $30 billion funding round to a group of United Arab Emirates sovereign funds led by Abu Dhabi's MGX, along with BlackRock, at a $1.4 trillion pre-money valuation, Bloomberg reported Monday. The ChatGPT maker's planned initial public offering is pushed back until at least 2027, according to the report [1][2]. OpenAI has not publicly confirmed the round; the reported figures come from Bloomberg, Fortune, the Financial Times, T…
OpenAI wants to collect new funds before its IPO. Among the interlocutors are well-known financiers. It is unusual that OpenAI already sets the price.
OpenAI Shops $30 Billion Round To UAE Funds, BlackRock As Altman's 'Bad Things' Remark Draws Bipartisan Fire
OpenAI Shops $30 Billion Round To UAE Funds, BlackRock As Altman's 'Bad Things' Remark Draws Bipartisan Fire With its planned IPO on ice for the moment, OpenAI is pitching a $30 billion funding round to a group of United Arab Emirates sovereign funds led by Abu Dhabi's MGX, along with BlackRock, at a $1.4 trillion pre-money valuation, Bloomberg reported Monday. There is no lead investor, and the price was set by OpenAI rather than negotiated. Me…
OpenAI Courts $30 Billion From UAE Sovereign Wealth and BlackRock at $1.4 Trillion Valuation
OpenAI stands on the verge of one of the largest private fundraising rounds in technology history. The ChatGPT creator is in active discussions with multiple investment funds from the United Arab Emirates, led by Abu Dhabi-based MGX, to anchor a financing effort of at least $30 billion. BlackRock is talking with the group about joining as well. The talks come just months after OpenAI closed a $12.2 billion round in March that valued the company …
OpenAI in $30 Billion Round Talks With BlackRock, UAE Funds
OpenAI is in talks with multiple investment funds from the United Arab Emirates to help anchor a $30 billion round of financing, according to people familiar with the matter. BlackRock is also in discussions to participate in the round. Ruhell Amin reports on Bloomberg Television. (Source: Bloomberg)
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