OpenAI is discussing a financing round of at least $30 billion with investors including BlackRock and several United Arab Emirates investment funds, potentially lifting the ChatGPT developer’s valuation to about $1.4 trillion, according to Bloomberg.
The UAE investors, including Abu Dhabi-based MGX, are considering forming a syndicate that could contribute up to $10 billion, Bloomberg reported, citing people familiar with the discussions. BlackRock is also weighing participation alongside the group.
The negotiations remain underway, and the size and composition of the round could change. OpenAI and BlackRock declined to comment, while MGX did not respond to requests for comment outside normal business hours.
The proposed financing would follow OpenAI’s $122 billion fundraising in March, which valued the company at $852 billion after the new capital was included. Its latest target is a $1.4 trillion valuation before the additional investment, according to the report.
OpenAI is presenting that valuation to prospective investors as a fixed price, even though it has not yet selected a lead investor. That approach differs from the customary venture financing process, in which a lead investment firm typically negotiates the valuation and other terms with the company.
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