OpenAI discusses raising money from Saudi Arabia, Indian investors
OpenAI has discussed raising at least US$100 million each from Coatue and Founders Fund as part of its fundraising efforts.
CALIFORNIA : ChatGPT maker OpenAI has talked to Saudi Arabia's PIF, India's Reliance Industries and existing shareholder UAE' MGX about its US$40 billion financing, The Information reported yesterday.
The investors could put in at least hundreds of millions of dollars each, the report said, citing people familiar with the fundraising.
OpenAI is looking to raise more funds to fuel its model development and ambitious infrastructure plan Stargate, with the financing led by SoftBank.
Earlier this year, OpenAI CEO Sam Altman met with India's IT minister and discussed India's plan of creating a low-cost AI ecosystem, after which Altman also had plans to visit the UAE to discuss raising funds with Abu Dhabi investment group MGX, two sources with knowledge of the matter told Reuters.
The Microsoft-backed startup has also discussed raising at least US$100 million each from Coatue and Founders Fund as part of the fundraise, The Information report said, adding that the company also expects to raise an additional US$17 billion in 2027.
Reuters could not immediately confirm the report.
OpenAI, PIF, Reliance Industries, MGX and SoftBank did not immediately respond to Reuters requests for comment.
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