OpenAI is in talks with the UAE Investment Authority and BlackRock for a $30 billion financing, with a pre-money valuation of approximately $1.4 trillion

According to Bloomberg, OpenAI is in discussions with several investment funds from the UAE, seeking them to participate as core investors in a financing round of at least $30 billion. This includes MGX, headquartered in Abu Dhabi, and several UAE funds plan to form an investment consortium, with a total contribution potentially reaching $10 billion.

BlackRock is also discussing participating in this financing round alongside the consortium. OpenAI has also been in talks with existing investors such as the University of California Endowment Fund, Thrive Capital, and Andreessen Horowitz regarding participation. The financing is still in progress, and the final investors and specific terms may change.

OpenAI aims to raise funds with a pre-money valuation of approximately $1.4 trillion and has offered this valuation as a fixed price to investors without a determined lead investor. In March of this year, OpenAI completed a $122 billion financing with a post-money valuation of $852 billion. The company has postponed its IPO plans until at least next year, citing a current focus on AI safety work.