ChatGPT creator OpenAI is reportedly in discussions with Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and existing UAE investor MGX as part of a massive $40 billion financing round, according to a report by The Information.
Sources familiar with the fundraising said these investors could each contribute at least hundreds of millions of dollars. The funding aims to support OpenAI’s ambitious model development and infrastructure project called Stargate, with SoftBank leading the round.
Earlier this year, OpenAI CEO Sam Altman met India’s IT Minister to discuss India’s plans for a low-cost AI ecosystem. Altman also planned visits to the UAE to engage with Abu Dhabi’s MGX investment group regarding funding.
Microsoft-backed OpenAI has also talked to other potential investors including Coatue and Founders Fund, each expected to invest at least $100 million. Additionally, OpenAI anticipates raising another $17 billion in 2027.
Reuters has not yet confirmed the report, and OpenAI, PIF, Reliance Industries, MGX, and SoftBank did not immediately respond to requests for comment.
