OpenAI, the Microsoft-backed artificial intelligence company behind ChatGPT, is reportedly in discussions with major global investors, including Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and the United Arab Emirates’ MGX, as it seeks to secure up to $40 billion in financing. This is according to a report by The Information on Wednesday.
The report, citing sources familiar with the matter, said each of the investors could contribute at least several hundred million dollars to support OpenAI’s expansion efforts.
The new fundraising round is reportedly led by Japan’s SoftBank and is intended to accelerate the development of OpenAI’s infrastructure project, Stargate, and future iterations of its AI models.
Earlier this year, OpenAI CEO Sam Altman met with India’s IT Minister to discuss the creation of a low-cost AI ecosystem in the country. Following that meeting, Altman was also expected to visit the UAE to advance fundraising discussions with Abu Dhabi-based MGX.
OpenAI has also been in talks with prominent tech investment firms including Coatue Management and Founders Fund, aiming to raise at least $100 million from each, the report added. In addition to the current efforts, OpenAI reportedly anticipates raising another $17 billion in 2027.
The scale of the potential fundraising signals OpenAI’s aggressive push to solidify its leadership in the global AI race.
Melissa Enoch
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