OpenAI has entered discussions with multiple investment funds from the United Arab Emirates, including the Abu Dhabi-based MGX, to anchor a financing round that could reach $30 billion, according to a Bloomberg report. The UAE participants have considered forming a syndicate that would contribute as much as $10 billion in aggregate while BlackRock has held separate talks about joining the effort alongside that group. The fundraising remains in progress and key terms could still shift.
The latest capital injection would value OpenAI at roughly $1.4 trillion before new money arrives, marking a sharp increase from the $852 billion post-money valuation secured in its March round that raised $12.2 billion. OpenAI has presented that $1.4 trillion figure as fixed even though no lead investor has been designated, an unusual approach for a transaction of this scale. Thrive Capital and Andreessen Horowitz, both existing shareholders, have also engaged in conversations about additional participation.
MGX has emerged as one of the most active sovereign-linked investors in artificial intelligence, already maintaining holdings in OpenAI in addition to Anthropic and xAI. The fund raised close to $50 billion in fresh commitments earlier this year specifically to pursue AI infrastructure and technology opportunities, a pattern detailed in regional investment reviews by PwC Middle East. It operates under the chairmanship of Sheikh Tahnoon bin Zayed Al Nahyan with Mubadala and G42 listed among its founding partners.
BlackRock’s prospective role would extend an existing relationship with MGX that includes a separate $30 billion vehicle focused on infrastructure and developed in partnership with Microsoft and Nvidia. The world’s largest asset manager has steadily increased its exposure to artificial intelligence themes as demand for specialized computing resources continues to expand. Global spending on AI infrastructure is on track to approach $1 trillion annually, Moody’s Ratings data shows.
OpenAI has deferred its initial public offering until at least 2027 while it concentrates resources on safety research and model alignment, the Bloomberg report noted. The company did not comment on the fundraising discussions and BlackRock similarly declined to comment. MGX representatives did not respond to requests for comment outside normal business hours.
The talks illustrate the expanding role of Gulf capital in supporting Western artificial intelligence champions at a time when development costs for frontier models have escalated dramatically. A syndicate structure without a single lead investor deviates from conventional late-stage venture practice yet reflects the scale of liquidity now available from sovereign-linked entities. Further updates are expected as the parties work toward finalizing commitments.
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