OpenAI is in talks with Emirati funds and BlackRock for $30 billion in financing, with a pre-money valuation of approximately $1.4 trillion.

According to a Bloomberg report, OpenAI is in discussions with multiple UAE investment funds to secure a core investor for a funding round worth at least $300 billion. The funds include Abu Dhabi-based MGX, with several UAE funds planning to form an investment consortium that could contribute up to $100 billion in total. BlackRock is also in talks to join the consortium for this round. OpenAI has also approached existing investors including the University of California Endowment, Thrive Capital, and Andreessen Horowitz about participating. The fundraising is still ongoing, and the final investors and specific terms may change. OpenAI plans to raise funds at a pre-money valuation of approximately $1.4 trillion, offering this valuation as a fixed price to investors even though a lead investor has not yet been finalized. In March this year, OpenAI completed a $122 billion funding round at a post-money valuation of $852 billion. The company has delayed its IPO plans until at least next year, citing a focus on AI safety work as the reason.