OpenAI CEO Sam Altman Seeks Funding in UAE Amidst Global Expansion Efforts
OpenAI CEO Sam Altman plans to visit the United Arab Emirates this week to engage in discussions with Abu Dhabi investment group MGX, as reported by Reuters. This visit is part of OpenAI’s strategic efforts to raise $40 billion to support its ambitious model development and infrastructure plan, Stargate. The move comes at a time when US AI companies are facing increasing competition from more affordable Chinese alternatives, such as DeepSeek.
MGX, which participated in OpenAI’s previous funding round of $6.6 billion that concluded in October, has been expanding its influence in the US AI sector. The investment group has previously invested in notable companies like xAI and Databricks. However, MGX has not yet commented on the upcoming discussions with Altman.
Altman’s visit to Abu Dhabi follows his recent tour of Asia, where he announced a partnership with Japan’s SoftBank for AI services. SoftBank is reportedly in talks to lead a substantial funding round of up to $40 billion for OpenAI, potentially valuing the company at $300 billion. If successful, this could mark a record-breaking single funding round for a private company.
The outcome of Altman’s discussions in Abu Dhabi could significantly impact OpenAI’s future endeavors and its position in the rapidly evolving AI landscape.
