OpenAI is in talks with UAE funds and BlackRock for a $30 billion financing round at a pre-money valuation of about $1.4 trillion.

BlockBeats news, October 6th, according to Bloomberg, OpenAI is in negotiations with multiple UAE investment funds, seeking them to participate as core investors in a funding round of at least $30 billion. This includes Abu Dhabi-based MGX, and several UAE funds plan to form an investment consortium, with the total contribution potentially reaching up to $10 billion.

BlackRock is also discussing participating in this funding round together with the consortium. OpenAI has also approached existing investors, including the University of California endowment, Thrive Capital, and Andreessen Horowitz, regarding participation. The funding is still in progress, and the final investors and specific terms may change.

OpenAI plans to raise funds at a pre-money valuation of approximately $1.4 trillion and is offering this valuation as a fixed price to investors before a lead investor has been determined. In March of this year, OpenAI completed a $122 billion funding round at a post-money valuation of $852 billion. The company has postponed its IPO plan to at least next year, citing its current focus on AI safety work.