OpenAI in $30 Billion Round of Talks With UAE Funds, BlackRock

By the Editorial Team · Tuesday, October 6, 2026

OpenAI is in discussions with UAE investment funds, including MGX, and BlackRock to jointly raise up to $30 billion in a financing round that values the company at around $1.4 trillion. This funding effort follows OpenAI’s delayed IPO plans and highlights growing interest from Middle Eastern investors in supporting rapid AI advancements.

OpenAI is engaged in discussions with several investment funds from the United Arab Emirates, including Abu Dhabi-based MGX, to help anchor a $30 billion financing round, according to sources familiar with the matter. The potential syndicate of UAE investors is reportedly considering contributing up to $10 billion collectively. BlackRock Inc. is also in talks to join the funding round alongside the UAE syndicate.

The current fundraising effort aims to raise at least $30 billion, valuing OpenAI at approximately $1.4 trillion. The company has delayed plans for an initial public offering until at least next year, citing a strong focus on artificial intelligence safety development. This round follows OpenAI’s previous $1.22 billion funding event in March, which valued the firm at $852 billion.

MGX, which has invested in earlier funding rounds for OpenAI and other AI companies such as Anthropic, reportedly raised close to $50 billion earlier this year to accelerate investment in AI infrastructure and technology. Alongside the UAE funds, OpenAI has also held talks with the University of California’s endowment fund, an existing investor, and venture capital firms Thrive Capital and Andreessen Horowitz about participation in the new round. While Thrive Capital declined to comment, representatives for Andreessen Horowitz and the University of California did not respond to inquiries.

Unlike typical fundraising rounds where a lead investor is selected and terms are negotiated, OpenAI is reportedly presenting its $1.4 trillion pre-money valuation as a fixed price to prospective investors without having finalized a lead investor. The fundraising process remains ongoing and subject to change.

OpenAI and BlackRock have declined to comment on the talks, and MGX representatives did not respond to requests for comment. The company’s efforts reflect a broader trend among leading artificial intelligence firms to secure substantial investment from deep-pocketed investors in the Middle East as they pursue rapid development of AI technologies.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.