OpenAI Seeks $50 Billion in New Funding Round as CEO Altman Courts Middle East Investors
Summary
OpenAI pursues a massive $50 billion funding round through talks with Middle East sovereign wealth funds, as CEO Sam Altman travels to the UAE for investment discussions expected to close in Q1, following previous fundraising that valued the AI company at $500 billion.
Key Points
- OpenAI conducts talks with Middle East sovereign wealth funds for a new multibillion-dollar funding round expected to total around $50 billion
- CEO Sam Altman travels to the United Arab Emirates to participate in investment discussions with the funding round expected to close in the first quarter
- The company previously raised $40 billion in its last major financing round led by SoftBank and completed a $6.6 billion share sale in October that valued the company at $500 billion