OpenAI is reportedly aiming to raise billions of dollars from investors in the Middle East and India, according to a report by The Information. The AI company has engaged in discussions with several high-profile investors, including Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and the UAE’s MGX, to secure funding for its $40 billion financing round. The funds will support OpenAI’s ambitious project, Stargate, which aims to build the infrastructure necessary to power the next generation of artificial intelligence.
The company is looking for contributions of at least hundreds of millions of dollars from these investors. The financing round is being led by SoftBank, and OpenAI is also in talks to raise additional capital from Coatue and Founders Fund, with each expected to contribute at least $100 million. The funds will help OpenAI continue its model development and support its broader infrastructure goals.
Earlier this year, OpenAI CEO Sam Altman met with India’s IT Minister to discuss the country’s plans for creating a low-cost AI ecosystem. Altman also planned to visit the UAE to meet with Abu Dhabi-based MGX to discuss further funding. This ongoing fundraising effort reflects OpenAI’s strategy to secure the necessary resources to expand its operations and meet its ambitious goals. The company expects to secure an additional $17 billion by 2027.
The report did not immediately receive confirmation from the involved parties, including OpenAI, PIF, Reliance Industries, MGX, and SoftBank. However, the fundraising efforts demonstrate OpenAI’s drive to secure significant investment to continue advancing its AI technologies and infrastructure.
