OpenAI, the company behind the groundbreaking ChatGPT, is seeking to raise billions of dollars in funding from investors in the Middle East and India. The company is in talks with major investors including Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and the United Arab Emirates’ MGX to secure financing for its ambitious Stargate project, a plan aimed at building the infrastructure to power the next generation of artificial intelligence.
Stargate Project to Revolutionize AI Infrastructure
According to reports from The Information, OpenAI is seeking a $40 billion financing round to fund Stargate, a bold new initiative designed to support the company’s infrastructure and model development needs. The project is crucial for scaling AI technologies and meeting the growing demand for more powerful, efficient AI systems.
Investors such as PIF, Reliance Industries, and MGX could contribute hundreds of millions of dollars toward this effort, with the total fundraising expected to reach billions. The round is being led by SoftBank, known for its significant investments in tech startups.
OpenAI’s Expansion Plans in India and the Middle East
The fundraising initiative comes after OpenAI CEO Sam Altman met with India’s IT Minister earlier this year to discuss the country’s efforts to develop a low-cost AI ecosystem. Following that meeting, Altman also planned a visit to the UAE to meet with MGX, a major Abu Dhabi-based investment group, to discuss the potential for funding.
In addition to these regional players, OpenAI is also looking to raise at least $100 million each from investment firms Coatue and Founders Fund as part of this fundraising effort. OpenAI has ambitious plans to secure another $17 billion in 2027 to continue its groundbreaking AI work.
A Step Toward Advancing AI’s Global Reach
With this new round of funding, OpenAI aims to make significant strides toward powering the future of AI. The company’s efforts in securing investments from international players indicate the global demand for AI infrastructure and technologies.
As of now, Reuters has not been able to independently verify the details of this fundraising effort, and none of the parties involved, including OpenAI, PIF, Reliance Industries, MGX, or SoftBank, have publicly commented on the matter.
