OpenAI in talks with UAE funds and BlackRock for $30 billion funding round

OpenAI is in discussions with BlackRock and a syndicate of United Arab Emirates investment funds, including Abu Dhabi's MGX, to anchor a $30 billion funding round. The ChatGPT maker is presenting a fixed, non-negotiable pre-money valuation of $1.4 trillion to prospective investors, while pushing back its initial public offering plans to at least 2027. The UAE funds may contribute up to $10 billion, highlighting a growing trend of top-tier artificial intelligence developers relying on deep-pocketed Middle Eastern capital to meet intense infrastructure demands.

OpenAI funding round negotiations

• ▪The University of California's endowment fund, Thrive Capital, and Andreessen Horowitz have also held discussions about participating in OpenAI's $30 billion funding round alongside UAE funds and BlackRock
• ▪OpenAI is presenting its approximately $1.4 trillion pre-money valuation as a fixed, set price without having selected a lead investor, pushing back its initial public offering plans until at least 2027
• ▪OpenAI is in talks with multiple United Arab Emirates investment funds, including Abu Dhabi-based MGX, and BlackRock to anchor a $30 billion funding round
• ▪The United Arab Emirates investment funds are discussing forming a syndicate to invest as much as $10 billion altogether in OpenAI's $30 billion funding round

MGX background and investments

• ▪Abu Dhabi-based MGX, which raised close to $50 billion in early 2026, is chaired by Sheikh Tahnoon bin Zayed Al Nahyan with Mubadala and G42 as founding partners
• ▪MGX has previously invested in funding rounds for both OpenAI and Anthropic prior to the current $30 billion OpenAI funding round discussions
• ▪BlackRock and MGX already operate a joint $30 billion artificial intelligence infrastructure investment vehicle alongside Microsoft and Nvidia
• ▪Abu Dhabi-based MGX holds an investment stake in xAI, in addition to MGX's holdings in OpenAI and Anthropic

Debatable claims

• ▪MGX's concurrent investments in competing AI developers harm market competition
• ▪US artificial intelligence developers should reject investment from Middle Eastern sovereign wealth funds
• ▪OpenAI is right to delay its initial public offering to prioritize safety