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OpenAI is reportedly discussing a funding round targeting at least $30 billion, with Abu Dhabi investment firm MGX among the UAE funds in talks and BlackRock also reportedly considering participation. The round has not been reported as closed: the amount, investor commitments and valuation remain unsettled, and the terms could change.
What is being discussed?
Bloomberg reported on October 5, 2026, that OpenAI was in talks with multiple UAE investment funds, including MGX, to help anchor a $30 billion round. BlackRock was also reportedly in talks to participate. Bloomberg’s account said fundraising was ongoing and terms could change. Bloomberg
A Cinco Días report published October 7, attributing details to Bloomberg, said OpenAI was seeking at least $30 billion at an approximately $1.4 trillion valuation. That valuation is a reported target, not an agreed price or confirmed transaction term. Cinco Días
How should the reported amounts be read?
The $30 billion figure is the reported target for the overall round. Separately, UAE funds had reportedly discussed contributing as much as $10 billion collectively, possibly through a syndicate. That is a discussion amount—not a commitment—and it is only a portion of the proposed round. Bloomberg
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The approximately $1.4 trillion figure is the valuation OpenAI was reportedly seeking, according to Cinco Días’ account of Bloomberg’s reporting. No final valuation has been reported, and it should not be treated as the value assigned in a completed deal. Cinco Días
What is MGX’s connection to OpenAI?
MGX has a documented prior investment relationship with OpenAI. In a February 27, 2026, board update, MGX said it participated in OpenAI’s latest employee secondary and described it as its fourth follow-on investment in OpenAI. That statement establishes past investment activity; it does not confirm MGX’s participation or commitment in the newly reported round. MGX
The same MGX statement identified MGX and BlackRock/GIP among leading participants in the AI Infrastructure Partnership. That provides context for their infrastructure interests, but it does not establish that the reported OpenAI fundraising is part of that partnership.
How does this compare with OpenAI’s previous financing?
The reported talks are separate from OpenAI’s earlier financing announced in February 2026. The Associated Press reported that Amazon, SoftBank and Nvidia supplied $110 billion in funding at a $730 billion pre-money valuation. Those figures describe that earlier financing, not the terms of the proposed $30 billion round. Associated Press
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What is not yet known?
- Whether the proposed round will close, and when.
- Which investors will participate and whether any will make a commitment.
- The final amount raised and the valuation, if a deal is completed.
The available reporting does not include a public confirmation of this specific round from OpenAI, MGX or BlackRock. Until terms or an agreement are announced, the reported investor discussions and figures should be treated as provisional.
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