OpenAI is in discussions with major global investors as it targets a $40 billion funding round at a $300 billion valuation. Key players in this effort reportedly include the UAE’s MGX, Saudi Arabia’s Public Investment Fund (PIF), and India’s Reliance Industries.
This investment drive, led by SoftBank Group, reflects OpenAI’s ambition to expand its AI infrastructure and global partnerships. The Information first reported the talks, citing unnamed sources familiar with the process. However, no official statements have yet come from OpenAI, MGX, PIF, Reliance, or SoftBank.
Middle East Becomes Central to OpenAI’s Global Vision
The UAE and Saudi Arabia have emerged as crucial players in OpenAI’s international expansion. MGX, based in the UAE and an existing OpenAI shareholder, is one of the entities reportedly engaged in funding discussions. Saudi Arabia’s PIF is also involved, underscoring the kingdom’s commitment to innovation and digital transformation under Vision 2030.
OpenAI CEO Sam Altman plans to visit the UAE to meet with MGX representatives. Earlier this year, Altman also visited India and discussed AI partnerships with the country’s IT Minister. These efforts show OpenAI’s intent to deepen relationships in high-growth, tech-forward regions.
Reliance Industries Approached for India Investment
Mukesh Ambani’s Reliance Industries is among the firms Altman has approached for participation. Known for its strong digital infrastructure, Reliance is seen as a strategic partner that could support OpenAI’s entry into the Indian market.
In addition to sovereign and corporate investors, OpenAI is also in talks to raise at least $100 million each from Coatue Management and Founders Fund. If completed, this round would be among the largest private tech fundraises in history.
Why OpenAI is Raising $40 Billion Now
In a post dated March 31, OpenAI confirmed it was raising $40 billion at a $300 billion valuation. The funds will support AI research, infrastructure development, and the growth of tools like ChatGPT, which serves over 500 million weekly users.
“We’re excited to be working in partnership with SoftBank Group—few companies understand how to scale transformative technology like they do,” OpenAI said. “Their support will help us build systems that drive discovery, enable personalised learning, and unlock global creativity.”
Revenue Growth and Investor Confidence
OpenAI has reportedly reached $10 billion in annualised recurring revenue, doubling from $5.5 billion in December 2024. The company’s rapid financial growth strengthens investor confidence and highlights the rising demand for generative AI products worldwide.
By including major regional players like MGX, PIF, and Reliance, OpenAI is aligning its capital strategy with long-term growth markets in the Middle East and South Asia.
