OpenAI seeks $50bn from Middle Eastern funds
OpenAI is actively seeking substantial investments from sovereign wealth funds in the Middle East for a new funding round estimated at around $50 billion (about €42.6 billion). Although this figure may still fluctuate and the final agreements have yet to be signed, talks are in full swing.
Sam Altman, the CEO of OpenAI, is currently in the United Arab Emirates to take part in those investment discussions. The aim is to complete the funding round in the first quarter of the year.
OpenAI has experienced remarkable growth since the launch of its groundbreaking AI chatbot ChatGPT in 2022. That innovation has fuelled the current AI boom and turned OpenAI into one of the fastest-growing commercial entities in the world.
To support its expansion, the development of new models and the roll-out of innovative features, OpenAI has raised billions of dollars from investors.
Last year, a record-breaking $40 billion (around €34 billion) funding round led by SoftBank was successfully completed. Alongside Coatue, Altimeter and Thrive, key investor Microsoft also took part in that financing milestone. As further proof of its financial clout, OpenAI completed a $6.6 billion (around €5.6 billion) share sale in October, pushing its valuation up to no less than $500 billion (€426 billion).
The news comes as OpenAI toys with introducing advertising as a way to monetise ChatGPT beyond tiered subscriptions. Earlier this week OpenAI CFO Sarah Friar said she said the company booked revenues of $20 billion last year, more than three times that of 2024.
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