> OpenAI Seeks at Least $30 Billion in Funding From UAE Investors

OpenAI is seeking to raise at least $30 billion in a new funding round, with investment institutions in the United Arab Emirates discussing a commitment of as much as $10 billion.

Bloomberg reported on Oct. 5 that OpenAI has been in talks with several UAE investment firms, including Abu Dhabi-based MGX, about participating in the $30 billion funding round. Those investors have discussed forming a consortium that could invest as much as $10 billion in total.

BlackRock, the world's largest asset manager, is also in talks to invest alongside the consortium. Because the fundraising is still underway, the participating firms and the size of their commitments could change. OpenAI and BlackRock declined to comment, while MGX didn't respond.

OpenAI is pursuing a plan to raise at least $30 billion at a valuation of about $1.4 trillion. It has delayed an initial public offering until at least next year to focus on artificial intelligence safety work.