OpenAI is in talks with BlackRock and United Arab Emirates investment funds over a $30 billion financing round, Bloomberg reported on 6 October. The discussions follow a $122 billion raise in March at an $852 billion valuation, according to Investing.com.
Key points
- Abu Dhabi-based MGX and other UAE funds are considering a syndicate contribution of as much as $10 billion in total.
- BlackRock is separately in discussions to participate in the proposed financing.
- OpenAI is seeking at least $30 billion at a valuation of about $1.4 trillion. The fundraising remains ongoing, and its terms could change.
MGX joins the $10 billion discussions
The UAE discussions include MGX, an investment fund based in Abu Dhabi. The funds have considered a combined investment of as much as $10 billion through a syndicate. That amount describes the funds’ discussions, rather than the total OpenAI is seeking to raise.
BlackRock is also discussing participation in the financing. Bloomberg described the UAE funds as prospective anchors for the round, while its report placed BlackRock among the parties considering an investment. The talks cover a proposed transaction rather than a completed capital raise.
The fundraising is continuing and its terms could change. The UAE funds are considering a combined investment of up to $10 billion in that round.
OpenAI seeks a $1.4 trillion valuation
OpenAI is seeking at least $30 billion at a roughly $1.4 trillion pre-money valuation, TokenPost reported on 5 October. The pre-money figure describes the proposed valuation before proceeds from the new financing are counted.
AI Affairs reported that OpenAI was seeking at least $30 billion at a proposed $1.4 trillion valuation after delaying its planned initial public offering. The discussions with BlackRock and the UAE funds concern participation in that fundraising.
In March, OpenAI raised $122 billion at an $852 billion post-money valuation, TokenPost reported. The current fundraising would be measured against that earlier financing, although the reported March figure includes the capital raised and the proposed $1.4 trillion figure is pre-money.
OpenAI has pushed its planned initial public offering back until at least next year. The proposed private round would bring in new funding during that delay if the company completes it on the terms now being discussed.
MGX and SoftBank have backed OpenAI before
MGX has invested in previous funding rounds for OpenAI and Anthropic, according to Investing.com. Its discussions over the proposed syndicate would add to an existing investment relationship with OpenAI.
Other investors have also committed substantial capital to OpenAI. AI Affairs reported that SoftBank completed a $10 billion payment to OpenAI, taking its investment to $64.6 billion. The payment was completed, unlike the contributions now under discussion with the UAE funds and BlackRock.
MGX raised nearly $50 billion earlier in 2026 for investments in AI infrastructure and technology, Investing.com reported. The fund’s previous OpenAI investment and that capital raise form the background to its discussions about joining the new financing.
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