OpenAI seeks $30 billion financing with UAE investors and BlackRock participation

OpenAI is actively courting a consortium of investors to fund a $30 billion financing round, targeting a valuation near $1.4 trillion. Among the prospective backers are multiple United Arab Emirates funds, with Abu Dhabi-based MGX highlighted as a potential anchor that could collectively invest up to $10 billion. BlackRock is reported to be in parallel talks to join the syndicate.

The company has also approached its current investors, including the University of California’s endowment, Thrive Capital and Andreessen Horowitz, for further contributions. This capital raise follows a prior $122 billion round in March that valued OpenAI at $852 billion. The firm has delayed any initial public offering until at least 2027 to focus on AI safety initiatives. Earlier, OpenAI and rival Anthropic have turned to wealthy Middle-East investors for similar financing needs, with MGX having participated in past rounds.