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      BlackRock and multiple UAE funds in talks to join OpenAI's latest $30 billion funding round

      PANews, October 6 — According to Bloomberg, people familiar with the matter said that multiple UAE investment funds, including MGX, are in talks with OpenAI and may participate in the AI giant's latest $30 billion funding round. One of the people said these funds will form a consortium to participate in OpenAI's round. Another person said the UAE funds are discussing a combined investment of up to $10 billion.

      People familiar with the matter said BlackRock is also in talks to join the round. The fundraising is still underway and specific terms may change. According to earlier media reports, OpenAI is seeking to raise at least $30 billion, with a pre-money valuation expected to reach about $1.4 trillion. Citing its focus on AI safety, the company has postponed its IPO plans until at least next year. OpenAI's most recent funding round was in March this year, when it raised $122 billion at a post-money valuation of $852 billion.


      Source: PANews
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