OpenAI is in talks with Abu Dhabi’s MGX and BlackRock for a $30B round

OpenAI is in talks with UAE funds including MGX, which may put in as much as $10B together, and with BlackRock, to anchor a $30B round at a $1.4T valuation it is presenting as a fixed price without a lead investor. The EU’s AI gigafactory programme carries the same headline number with about EUR 1B of public money actually committed.

OpenAI is asking funds in the United Arab Emirates and BlackRock for $30B at a price it set itself. No lead investor has been chosen. Europe’s AI programme carrying the same headline number has about EUR 1B actually committed.

Abu Dhabi’s MGX is discussing a syndicate of UAE funds worth as much as $10B, with BlackRock alongside it, as Bloomberg reported. OpenAI and BlackRock declined to comment and MGX did not respond. The round is unsettled and the details could change.

The valuation is about $1.4T before the money...

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