OpenAI in Talks for $30 Billion Funding Round with UAE Funds and BlackRock
OpenAI is reportedly in discussions to raise a new funding round of at least $30 billion, backed by a consortium of UAE investment funds—including Abu Dhabi's MGX—and asset manager BlackRock. The potential deal sets OpenAI's pre-money valuation at approximately $1.4 trillion and postpones its prospective IPO until at least next year. A $1.4 trillion valuation highlights the immense financial resources required to train, deploy, and scale frontier AI models. It underscores the tech industry's increasing dependence on Middle Eastern sovereign wealth funds and giant institutional asset managers to fund astronomical infrastructure and operational costs. The UAE consortium could contribute up to $10 billion of the total amount, with existing backers like Thrive Capital, Andreessen Horowitz, and the University of California endowment also discussing participation. Unusually for venture fundraising, OpenAI directly offered investors a fixed pre-money valuation of $1.4 trillion rather than negotiating lead investor terms.
## BACKGROUND
Developing and operating state-of-the-art AI software requires extraordinary capital for data centers, specialized hardware like GPUs, and energy infrastructure. Middle Eastern sovereign entities, such as Abu Dhabi's MGX, have established dedicated multi-billion-dollar funds to back AI infrastructure and global tech giants.