OpenAI eyes $40 billion AI fund with backing from Reliance, Saudi and UAE investors

Led by Japan’s SoftBank, the initiative aims to accelerate OpenAI’s advanced AI model development and build its massive “Stargate” infrastructure project to significantly expand computing power for next-generation artificial intelligence applications

ChatGPT maker OpenAI is reportedly in advanced discussions to raise up to $40 billion through a new global funding round. According to reports, major investors in talks include sovereign wealth funds and corporations such as Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and the UAE’s MGX. Each investor is expected to contribute several hundred million dollars, marking one of the largest private fundraising efforts in the AI sector to date.

The initiative is reportedly led by Japan’s SoftBank and is focused on accelerating the development of OpenAI’s advanced AI models and the construction of its large-scale infrastructure project known as “Stargate.” This project aims to significantly expand the company’s computing capacity and support the next generation of AI applications.

Altman’s global AI funding drive

OpenAI CEO Sam Altman has been actively pursuing global partnerships to support this vision. His recent efforts include meetings with India’s Minister for Electronics and IT to explore collaborative opportunities for building an affordable and scalable AI ecosystem. Altman is also expected to visit the UAE to hold discussions with MGX, one of the Gulf region’s influential investment firms.

In addition to sovereign funds, OpenAI is reportedly negotiating with US-based venture firms Coatue Management and Founders Fund, each of which may invest over $100 million. Looking ahead, OpenAI also plans to raise an additional $17 billion by 2027, signalling a long-term commitment to infrastructure growth and AI innovation on a global scale.